Email: [email protected] æljj/0fkqÆ · a'6jn kfj/ sDkgL lnld6]8, u+ufb]jL dfu{ j8f g+= !), a'4gu/, sf7df8f}+ / j]j;fO6 M

0

sDkgL P]g, @) # cGtu{t ;+rflnt -z]o/df ;Lldt bfloTj ePsf]_

a'6jn kfj/ sDkgL lnld6]8 BUTWAL POWER COMPANY LIMITED u+ufb]jL dfu{ j8f g+= !), a'4gu/, , sf7df8f}+ . kmf]g g+M $&*!&& , $&*$)@ ôfS; g+M )!–$&*)(($ Email: [email protected], URL: www.bpc.com.np

sf]

æljj/0fkqÆ yk ;fj{hlgs lgisfzg -kmb{/ klAns O:o"_ ;DjGwL ljj/0f—kq

-lwtf]kq ;DjGwL P]g, @)^# sf] bkmf #) tyf sDkgL P]g,@)^# sf] bkmf @# cGtu{t k|sflzt_ ?=$),*!,)),)))÷–/sd a/fa/sf] k|lt z]o/ ?=!))÷– c+lst b/sf $),*!,))) lsQf ;fwf/0f z]o/df lk|ldod jfkt ?= $)!÷–yk u/L k|lt z]o/ ?= %)!÷– sf b/n] ;j{;fwf/0fx?df yk ;fj{hlgs lgisfzg -kmb{/ klAns O:o'_ .

b/vf:t;fy k|lt z]o/ ?= %)!÷– sf] b/n] -lk|ldod ?= $)!÷– ;lxt zt\k|ltzt_ e'QmfgL dfu ul/Psf] . nufgLdf x'g] hf]lvd ;DaGwL pb\3f]if0f M lwtf]kqdf ul/g] nufgLdf hf]lvd x'g] ePsf]n] To:tf] hf]lvdsf] d"NofÍg ug]{ k|d'v bfloTj nufgLstf{ :jo+sf] x'g]5 / lwtf]kqsf] lgisfzg d"Non] ;"rLs/0f kZrft\ lwtf]kq ahf/df x'g] sf/f]jf/ d"No ghgfpg] x'Fbf o; ljj/0fkqsf] bkmf * df pNn]lvt hf]lvdx? ;d]tsf] cWoog u/]/ dfq nufgL ;DaGwL lg0f{o lng ;'emfj ul/G5 . lgodg lgsfosf] hjfkmb]xLtf g/xg] pb\3f]if0f M o; ljj/0fkqdf pNn]lvt lwtf]kq ;fj{hlgs lgisfzgsf] nflu tof/ ul/Psf] o; ljj/0fkqnfO{ lwtf]kq ;DaGwL P]g, @)^# adf]lhd g]kfn lwtf]kq af]8{n] :jLs[tL k|bfg u/]sf] 5 . o;/L af]8{n] ljj/0fkq :jLs[tL k|bfg u/]sf] sf/0faf6 s;}n] klg g]kfn lwtf]kq af]8{, sDkgL /lhi6«f/sf] sfof{no jf ;Da4 cGo lgodg lgsfon] ljj/0fkqdf plNnlvt s'/fsf] ;Totf jf lgisfzgstf{ jf kl/of]hgfsf] cfly{s ;Ifdtfsf] af/]df s'g} k|sf/sf] k|Tofe"t u/]sf] jf lhDd]jf/L lnPsf] dflgg] 5}g . ;fj{hlgs lgisfzg ug{ egL 5'6\ofOPsf] lwtf]kq ;DalGwt ;+:yfks, ;+rfns jf k|aGw ;+rfnsn] lng kfpg] 5}gg\ t/ To:tf] lwtf]kqsf] b/vf:t v'Nnf /xg] egL tf]lsPsf] cjlwleq k"/f laqmL gePsf] cj:yfdf of] k|ltaGw nfu" x'g] 5}g .

g]kfn lwtf]kq af]8{af6 ljj/0fkq :jLs[t ePsf] ldlt M @)&$÷)*÷!* sDkgL /lhi6«f/sf] sfof{nodf ljj/0fkq btf{ ePsf] ldlt M @)&$÷)(÷@$ lgisfzg v'Nnf x'g] ldltM @)&$÷!)÷!% lgisfzg aGb x'g] ldlt -l56f]df_ M @)&$÷!)÷!( lgisfzg aGb x'g] ldlt -l9nf]df_ M @)&$÷!!÷!% o; ljj/0fkq dfkm{t\\ lgisfzg ul/g] ;fwf/0f z]o/sf] ;fj{hlgs lgisfzg ug{sf nflu O{qmf g]kfn ln= af6 æO{qmf Pglk cfO{lkcf] #Æ k|df0fkq k|fKt u/]sf] 5 . “[ICRANP] IPO Grade 3” n] Average Fundamentals hgfpFb5 . O{qmf g]kfnn] ! b]lv % KjfOG6 u|]l8Ë k|bfg ub{5 . h;df u|]8 ! n] alnof cfwf/ hgfpF5 eg] u|]8 % n] sdhf]/ cfwf/x? hgfpF5 . u|]8 @, # / $ df k|of]u ul/g] + (Plus) lrGxn] o; ;d"xsf t'ngfTds ;sf/fTds l:yltnfO{ hgfpF5 . ;f] ;DalGw ljj/0f o; ljj/0fkqsf] bkmf @@ -6_ df pNn]v ul/Psf] 5 .

lwtf]kq lgisfzg tyf laqmL k|jGws M

PgPdla Soflk6n lnld6]8 gfukf]v/L, sf7df8f}+ kmf]gM (&&–!–$$#&(^#, ôfS;M (&&–!–$$#&(^), Od]n: [email protected], j]j;fO6M www.nmbcl.com.np

;x–lwtf]kq lgisfzg tyf laqmL k|jGws M

nIdL Soflk6n dfs]{6 lnld6]8 gof+ afg]Za/, sf7df8f}+, g]kfn, kmf]g g+=(&&–)!–$&*)@@@, $&*!%*@ ôfS; g+= (&& –!–$&*)%*#, Od]n: [email protected], URL: www.laxmicapital.com.np

http://www.laxmicapital.com.np/

1

!= ljj/0fkqdf k|of]u ePsf k|fljlws tyf cGo zAbfjnLsf] kl/efiff M s_ æljj/0fkqÆ eGgfn] ;fj{hlgs ?kdf z]o/ lgisfzg ug{ lwtf]kq ;DaGwL P]g, @)^# sf] bkmf #) tyf

sDkgL P]g, @)^# sf] bkmf @# cGtu{t tof/ kf/L k|sflzt lgisfzg sDkgLsf] ;Gbe{df nufgLstf{x?nfO{ hfgsf/L lbgsf] nflu tof/ ul/Psf]] k|:t't k'l:tsfnfO{ ;Demg' kb{5 .

v_ ælwtf]kq lgisfzg tyf laqmL k|aGwsÆ eGgfn] PgPdla Soflk6n lnld6]8, gfukf]v/L, sf7df8f}+nfO{ ;Demg' kb{5 .

u_ æ;+ul7t ;+:yfÆ eGgfn] lgisfzgstf{ sDkgL a'6jn kfj/ sDkgL lnld6]8, a'4gu/, sf7df8f}+nfO{ ;Demg' kb{5 .

3_ æ;+sng s]Gb|Æ eGgfn] ;fj{hlgs lgisfzgsf] nflu tof/ ul/Psf] ljj/0fkq / b/vf:t kmf/d k|fKt ug{ ;lsg] tyf b/vf:t kmf/d ;fy /sd a'emfpg ;lsg] u/L tf]lsPsf ;+:yfnfO{ ;Demg' kb{5 .

ª_ ælgisfzg a}+sÆ eGgfn] ;fj{hlgs lgisfzgaf6 ;+sng x'g cfPsf] /sdnfO{ hDdf ug{sf] nflu tf]lsPsf] a}+sx?nfO{ ;Demg' kb{5 .

r_ ælgodg lgsfoÆ eGgfn] g]kfn lwtf]kq af]8{, sDkgL /lhi6«f/sf] sfof{no tyf ljB't ljsf; ljefunfO{ ;Demg' kb{5 .

5_ æ;+:yfks, ;+rfns, sfo{sf/L k|d'v tyf Aoa:yfkgÆ eGgfn] a'6jn kfj/ sDkgL ln=sf ;+:yfks, ;+rfns, k|d'v sfo{sf/L clws[t tyf Joj:yfkgnfO{ ;Demg' kb{5 .

h_ æaf]8{Æ eGgfn] g]kfn lwtf]kq af]8{nfO{ ;Demg' kb{5 . @= ljj/0fkq tyf b/vf:t kmf/d k|fKt ug]{ / a'emfpg] :yfg M

l;=g+= ljj/0fkq k|fKt ug]{ :yfgsf] gfd / 7]ufgf != PgPdla Soflk6n lnld6]8, gfukf]v/L, sf7df8f}+ / j]j;fO6 M www.nmbcl.com.np

@= nIdL Soflk6n dfs]{6 lnld6]8, goFf afg]Zj/, sf7df8f}+ / j]j;fO6 M www.laxmicapital.com.np

#= a'6jn kfj/ sDkgL lnld6]8, u+ufb]jL dfu{ j8f g+= !), a'4gu/, sf7df8f}+ / j]j;fO6 M www.bpc.com.np

l;=g+= b/vf:t kmf/d k|fKt ug]{ / a'emfpg] :yfg M

!= g]kfn lwtf]kq af]8{af6 :jLs[lt k|fKt u/]sf ;Dk"0f{ cf:af (ASBA) ;b:o a}+s tyf ljQLo ;+:yfx? / ltgsf zfvf sfof{nox? .

http://www.laxmicapital.com.np/

2

!= lwtf]kq lgisfzg tyf laqmL k|aGwssf] pb\3f]if0f M

xfdLnfO{ a'6jn kfj/ sDkgL lnld6]8 tyf o;sf ;+:yfks÷;+rfnsx?n] pknAw u/fPsf] ljj/0f tyf hfgsf/Lx?sf] cfwf/df To; ;+:yfsf] Aoa:yfklso, k|fljlws / cfly{s kIfsf] ljZn]if0ffTds cWoogaf6 xfdL ;Gt'i6 x'g'sf] ;fy} ljj/0fkqdf n]lvPsf cfly{s ljj/0fx? / cGo hfgsf/L tYout, k"0f{ / ;xL b]lvPsf]n] nufgLstf{x?nfO{ nufgL ;DaGwL lg0f{o lng d2t k'Ug] s'/fk|lt ljZj:t eO{ xfdLn] of] ljj/0fkq :jLs[tLsfnflu g]kfn lwtf]kq af]8{df ælwtf]kq ;DaGwL P]g, @)^#Æ tyf ælwtf]kq btf{ tyf lgisfzg lgodfjnL, @)&#Æ cg'?ksf] of]Uotf k'u]sf] k|ltj4tfkq (Due Diligence Certificate) k|:t't u/]sf 5f}+ .

@= ;+ul7t ;+:yfsf] pb\3f]if0f M s_ ;+rfnssf] lhDd]jf/L tyf hjfkmb]lxtf ;DaGwL pb\3f]if0f M

of] ljj/0fkq xfdLn] k'g/fjnf]sg u/L cg'df]bg u/]sf] x'gfn] o; ljj/0fkqdf pNn]v ul/Psf ljj/0f tyf hfgsf/Lx?sf ;fy} lgisfzg tyf laqmL k|jGwsnfO{ lbPsf] ljQLo ljj/0f, cGo ljj/0f, hfgsf/L tyf sfuhftx?sf ;Totf / z'4tf k|lt / lwtf]kq btf{ tyf lgisfzg cg'dlt k|of]hgsfnflu g]kfn lwtf]kq af]8{df k]z ul/Psf] ljj/0fkq / ;f];Fu ;DalGwt cGo ljj/0f tyf hfgsf/Lx?sf] z'4tf tyf ;Totfk|lt o; ljj/0fkqdf x:tfIf/ ug]{ xfdL ;+rfnsx? JolQmut jf ;fd"lxs ?kdf hjfkmb]lxtf jxg ub{5f}+ / lwtf]kq lgisfzgsfnflu tf]lsPsf zt{ tyf cfjZostfx?sf] ;DaGwdf cfjZos hfgsf/L lnO{ xfdL pb\3f]if0f ub{5f}+ sL tf]lsPsf zt{ tyf cfjZostfx? ;a} kfngf u/]sf 5'÷5f}+ / nufgLstf{x?nfO{ nufgL ;DaGwL ;";'lrt lg0f{o lng cfjZos s'g} ljj/0f, ;"rgf tyf hfgsf/Lx? n'sfPsf 5}gf}+ .

v_ ;+ul7t ;+:yfsf] hjfkmb]lxtf ;DaGwL pb\3f]if0f M

o; a'6jn kfj/ sDkgL lnld6]8n] k|sflzt u/]sf] ljj/0fkq, ;fj{hlgs k|:tfj, lj1fkg jf cGo s'g} ;"rgfdf pNn]v ePsf ljj/0fx? afx]s ;+ul7t ;+:yfsf] af/]df k|sflzt cGo s'g} ;"rgf jf hfgsf/Lsf] hjfkmb]xLtf ;+ul7t ;+:yfdf g/xg] / To:tf] ;"rgf, hfgsf/L jf ljj/0fsf] cfwf/df nufgL u/]df ;f] sf] hf]lvd nufgLstf{ :jo+n] jxg ug'{kg]{5 .

u_ lgodg lgsfosf] lgodg Aoa:yfsf] kfngf ;DaGwL pb\3f]if0f M

k|rlnt sfg"g cg';f/ cfˆgf] pBf]u÷Joj;fo÷;]jf;Fu ;DalGwt lgodg lgsfo -h:t} M ljB't ljsf; ljefu cflb_ sf] yk ;fj{hlgs lgisfzg -kmb{/ klAns O:o"_ tyf cGo lgodg Joj:yf tyf lgb]{zgx?sf] kfngf u/]sf] s'/fsf] pb\3f]if0f ub{5f}+ . ;fy} yk ;fj{hlgs lgisfzg k|of]hgsf] nflu tof/ ul/Psf] ljj/0fkq / ;f] df pNn]lvt ;Demf}tf jf cGo ljj/0fx? g]kfn lwtf]kq af]8{ / sDkgL /lhi6«f/sf] sfof{nodf k]z u/]sf 5f}+ . ;fy}, sDkgL /lhi6«f/sf] sfof{noaf6 ldlt @)&$÷)%÷@! df o; sDkgLn] sDkgL P]g, @)^# adf]lhd k]z ug'{kg]{ cf=j= @)&#÷&$ ;Ddsf ljj/0fx? k]z u/]sf] x'gfn] ;f] cf=j ;Dd o; sDkgL cWofjlws /x]sf] hfgsf/L u/fpFb5f}+ .

3_ ;+:yfks, ;+rfns tyf sfo{sf/L k|d'v ;DaGwL pb\3f]if0f M

!= o; sDkgLsf] ;+:yfks, ;+rfns jf k|d'v sfo{sf/L clws[t shf{ ;"rgf s]Gb|sf] sfnf] ;"rLdf /x]sf 5}gg\ .

@= o; sDkgLsf] ;+rfns jf k|d'v sfo{sf/L clws[t sfnf] ;"rLdf /x]sf] cGo ;+ul7t ;+:yfdf ;+rfns jf sfo{sf/L k|d'v 5}gg\ .

#= ;fj{hlgs lgisfzg dfkm{t\ ;j{;fwf/0faf6 kF"hL ;+sng u/L a]kQf ePsf jf ;+rfngdf g/x]sf jf nufgLstf{x?sf] lxt ljk/Lt x'g] sfo{ u/]sf] ;+ul7t ;+:yfsf] ;+rfns jf k|d'v sfo{sf/L clws[t o; sDkgLsf] ;+rfns jf k|d'v sfo{sf/L clws[t 5}gg\ .

$= lwtf]kq ;DaGwL sfg"g ljk/Lt sfo{ u/]sf] sf/0f lwtf]kq ahf/ jf lwtf]kq Joj;foLsf] cg'dlt vf/]h ePsf] bz jif{ k"/f gePsf] ;+ul7t ;+:yfsf] ;+rfns jf k|d'v sfo{sf/L clws[t o; sDkgLsf] ;+rfns jf k|d'v sfo{sf/L clws[t 5}gg\ .

3

%= o; sDkgLsf] ;+rfns jf k|d'v sfo{sf/L clws[t lwtf]kq ;DaGwL P]gsf] bkmf !)* jdf]lhd cof]Uo /x]sf 5}gg\ .

#= ;+ul7t ;+:yf ;DaGwL hfgsf/L M s_ ;+ul7t ;+:yfsf] k[i7e"dL M

s_ ;+:yfsf] gfd M M a'6jn kfj/ sDkgL lnld6]8 (Butwal Power Company Limited) v_ s'g P]g cGtu{t :yflkt ePsf] ;f] s'/f M

a'6jn kfj/ sDkgL lnld6]8, k|rlnt sDkgL P]g adf]lhd k|f=ln=sf] ?kdf ldlt @)@@ ;fn kf}if !$ ut] btf{ eO{ ldlt @)$( ;fn kmfu'g ut] sDkgL /lhi6«f/sf] sfof{nodf klAns lnld6]8 sDkgLsf] ?kdf kl/jt{g eO{ klAns lnld6]8 sDkgLsf] ?kdf ldlt @)%) ;fn >fj0f #! ut]af6 sf/f]af/ k|f/De u/]sf] xf] . lghLs/0f P]g, @)%) cg';f/ g]kfn ;/sf/ -tTsflng >L % sf] ;/sf/_ n] cf gf] gfddf sfod /x]sf] o; sDkgLsf] z]o/x?dWo] r'Qmf k"FhLsf] &% k|ltzt z]o/ lghLs/0fsf] k|lqmof dfkm{t lghL nufgLstf{nfO{ ldlt @)%( ;fn df3 !% ut] laqmL x:tfGt/0f u/]sf] / tt\kZrft\ g]kfn ;/sf/n] yk !@ k|ltzt z]o/ ;j{;fwf/0f tyf sd{rf/Lx?nfO{ laqmL u/L xfn o; sDkgLsf d'Vo z]o/wgLx?df ;f+lu|nf Oglh{ ln=, g]kfn ;/sf/, cfOs]Pg g]kfn P= P;=, o'gfO{6]8 ld;g 6' g]kfn, g]kfn ljB't k|flws/0f tyf PgcfO{l8;L 8]enkd]G6 a}s lnld6]8 /x]sf 5g\ .

u_ ;+:yfsf] /lhi68{ 7]ufgf M o; sDkgLsf] /lhi68{ -s]G›Lo_ sfof{no jfudtL c~rn, sf7df8f}+ lhNnf, sf7df8f}+ dxfgu/kflnsf j8f g+ !) df /x]sf] 5 .

3_ sf/f]jf/ ug]{ d"Vo :yfg M o; sDkgLsf] sf/f]jf/ ug]{ :yfg sf7df8f}+ lhNnf sf7df8f}+ dxfgu/kflnsf j8f g+ !) df /x]sf] 5 . ;fy} Ko"7fg lhNnfsf] bfl/drf}/ / :ofËhf lhNnfsf] uNofËdf pTkfbg tyf ljt/0f s]Gb|x?sf sfof{nox? /x]sf 5g\ / ?kGb]xL lhNnf a'6jn g=kf= df ;Dks{ sfof{no /x]sf] 5 . o; sDkgLaf6 k|jl4{t kl/of]hgf÷cfof]hgfx?sf] lj:t[t 7]ufgf lgDgfg';f/ 5 M c_ #&= d]ufjf6sf] sfj]nL P hnljB't cfof]hgsf] d'Vo sfof{no sf7df08f} lhNnf, sf7df08f} dxfgfu/kflnsf, j8f g+= !), a'4gu/, gofF jfg]Zj/df / cfof]hgf sfof{no kf+ry/ lhNnf, ;fljs cd/k'/ uf=lj=;= j8f g+= % / ( sf] xfn lxlnxf+Ë ufpFkflnsf j8f g+ ! / $=df /x]sf] 5 . cf_ #) d]ufjf6 Ifdtfsf] GofbL hnljB't cfof]hgfsf] d'Vo sfof{no sf7df08f} lhNnf, sf7df08f} dxfgfu/kflnsf, j8f g+= !), a'4gu/, goF jfg]Zj/df / cfof]hgf sfof{no ndh'+u lhNnf, ;fljs afx'g8f+8f / e'ne'n] uf=lj=;=x?sf] xfn d:of{ªbL ufpFkflnsf j8f g+= df /x]sf] 5 .

ª_ ;+ul7t ;+:yfsf] :yfkgfsfn b]lv xfn ;Ddsf] ;+lIfKt Oltxf; / ;+ul7t ;+:yfsf] d"Vo p2]Zox? M

a'6jn kfj/ sDkgL lnld6]8, k|rlnt sDkgL P]g adf]lhd k|f=ln=sf] ?kdf ldlt @)@@ ;fn kf}if !$ ut] btf{ eO{ ldlt @)$( ;fn kmfu'g ut] sDkgL /lhi6«f/sf] sfof{nodf klAns lnld6]8 sDkgLsf] ?kdf kl/jt{g eO{ klAns lnld6]8 sDkgLsf] ?kdf ldlt @)%) ;fn >fj0f #! ut]af6 sf/f]af/ k|f/De u/]sf] xf] . lghLs/0f P]g, @)%) sf] cfwf/ g]kfn ;/sf/ -tfTsflng >L % sf] ;/sf/_ n] cf gf] gfddf sfod /x]sf] o; sDkgLsf] z]o/x? dWo] r'Qmf k"FhLsf] &% k|ltzt z]o/ lghLs/0fsf] k|lqmof dfkm{t lghL nufgLstf{nfO{ ldlt @)%( ;fn df3 !% ut] laqmL x:tfGt/0f u/]sf] / tt\kZrft g]kfn ;/sf/n] yk !@ k|ltzt z]o/ ;j{;fwf/0f tyf sd{rf/Lx?nfO{ laqmL u/L xfn o; sDkgLsf d'Vo z]o/wgLx?df ;f+lu|nf Oglh{ ln=, g]kfn ;/sf/, cfOs]Pg, g]kfn P= P;=, o'gfO{6]8 ld;g 6' g]kfn, g]kfn ljB't k|flws/0f tyf PgcfO{l8;L 8]enkd]G6 a}s lnld6]8 nufot b]zsf ljleGg Jofkf/ Joj;fo;Fu ;+nUg JolQmTjx? /x]sf 5g\ .

o; sDkgLsf] :jfldTjdf Ko"7fg lhNnfsf] bfl/drf}/df !@ d]ufjf6 Ifdtfsf] lemd?s hnljB't s]Gb|, :ofËhf lhNnfsf] uNofËdf (=$ d]ufjf6 Ifdtfsf] cfFlwvf]nf hnljB't s]Gb| ;~rfngdf /x]sf 5g\ . sDkgLn] cf g} ljt/0f ;+hfnaf6 :ofËhf, kfNkf, Ko"7fg / c3f{vfFrL lhNnfdf $*,%(( eGbf a9L ljB't pkef]Qmfx?nfO{ ljB't ;]jf k|bfg u/]sf] 5 . ;fy}, o; sDkgLn] ljleGg hnljB't cfof]hgfx? lgdf{0f tyf ;+rfng ug]{ ljleGg sDkgLx?df nufgL u/]sf] 5 Ù h;df ldlt @)%& cfiff9 b]lv ;+rfngdf /x]sf] ) d]ufjf6 Ifdtfsf] lvDtL hnljB't cfof]hgf, ldlt @) # kf}if b]lv ;+rfngdf /x]sf] $

4

d]ufjf6 Ifdtfsf] v'bL hnljB't cfof]hgf, lgdf{0fflwg #&= d]ufjf6 Ifdtfsf] sfj]nL P hnljB't cfof]hgf, tyf lgdf{0fflwg #) d]ufjf6 Ifdtfsf] GofbL hnljB't cfof]hgf /x]sf 5g\ .

Det Norske Veritas (DNV) n] ISO 9001:2008 Quality Management System, ISO 14001:2004 Environmental Management System, OHSAS 18001:2007 (Occupational Health and Safety Management System) sf] nflu o; sDkgLnfO{ k|df0fkq k|bfg u/]sf] 5 . o; sDkgLn] cf gf cfly{s ljj/0fx?sf] kf/bzL{tf tyf pTs[i6 jflif{s k|ltj]bgsf] k|:t'ltsf] nflu ljutsf cf7 jif{x?df g]kfn rf6{8{ PsfpG6]G6;\ ;+:yfaf6 pTkfbg ;d"x cGtu{t nuftf/ ;jf]{pTs[i6 jflif{s k|ltj]bg k|:t'tstf{sf] ?kdf cjf8{ (Best Presented Annual Report Award) tyf blIf0f Pl;ofdf pTkfbg If]qdf sfd ug]{ sDkgLx? dWo]af6 rog u/L South Asain Federation of Accountants (SAFA) af6 kf/blz{tf, hjfkmb]xLtf tyf ;+:yfut ;'zf;gsf] nflu jif{ @))(, @)!), @)!$ / @)!% sf] nflu k'/:sf/x? k|fKt u/]sf] 5 .

sDkgL P]g, @) # tyf cGo k|rlnt sfg"gsf] clwgdf /xL o; sDkgLsf] d'Vo p2]Zox? b]xfo adf]lhd /x]sf] 5 M s_ ljB'tzlQm pTkfbg, k|;f/0f tyf ljt/0f ;DaGwL gofF cfof]hgfx?sf] klxrfg ug]{, ;j]{If0f ug]{ tyf cfof]hgf sfof{Gjogsf]

nflu tof/ ug]{, v_ hn jf cGo ;fwgaf6 ljB't\zlQm pTkfbg ug]{, u_ pRr tyf sd ef]N6]hsf k|;f/0f nfO{gaf6 ljB't\ k|zf/0f ug]{ tyf ;f] ;DaGwL ;]jf k|bfg ug]{, 3_ ljB't\ zlQmsf] yf]s v/Lb laqmL ljt/0f ug]{, ª_ pkef]Qmfx?nfO{ ;f]em} ljB't ;]jf pknAw u/fpg], r_ ljB't u[x, ljB't k|;f/0f tyf ljt/0f nfO{gsf] lgdf{0f, ;+rfng, Joj:yfkg tyf dd{t ;+ef/sf] ;]jf k|bfg ug{], 5_ dfly pNn]lvt p2]Zo sfof{Gjog ug{ ;xfos sDkgL jf ;+o'Qm pkqmd sDkgL ;+:yfkgf ug]{ tyf To;df nufgL ug]{, h_ sDkgLsf] p2]Zox?;Fu ;DalGwt pBf]usf] k|jw{g ug]{ / To:tf pBf]ux?df nufgL ug]{, / em_ sDkgLsf p2]Zo k|flKtsf] lgldQ cfjZos / ;xfos x'g] cGo sfdx? ug]{ . cGo cfof]hgfx?sf] ljj/0f b]xfo jdf]lhd /x]sf] 5 .

GofbL hnljB't cfof]hgfM • hl8t IfdtfM #) d]ufjf6 • ljB't pTkfbg cg'dltkq k|fKt ldltM @)^(kmfu'g # • ljB't pTkfbg cg'dltkq axfn /xg] cjwLM @!)$ kmfu'g @ ;Dd • laB't vl/b laqmL ;Demf}tf ldltM @)&@ h]i7 !@ • laB't vl/b laqmL ;Demf}tf axfn /xg] cjwLM Jofkfl/s pTkfbg z'? ldltn] #) jif{ jf

ljB't pTkfbg cg'dltkq axfn /xg] ldlt dWo] h'g 36L 5 ;f] ;do ;Dd . • Olkl; 7]Ssf ;Demf}tf ldltM @)&#.!).# • cfof]hgfsf] lgdf{0f k|f/De ldltM @)&# r}q !@ • Jofkfl/s?kdf ljB't pTkfbg k|f/De x'g] ldltM @)&&.!.^ • cg'dflgt s'n nfutM ?= % c/j *^ s/f]8 • k|lt d]ufjf6 nfutM ?= !( s/f]8 %# nfv • shf{ nufgL lkmtf{ x'g] -Pay Back_ cjwLM !@ jif{ • ljB't v/Lb laqmL ;Demf}tfsf] d'Vo ljj/0f b]xfo adf]lhd 5 .

o ljB't vl/b laqmL b/ ;'Vvf ofddf k|lt o'lg6 ?= *=$) / jiff{ ofddf k|lt o"lg6 ?$=*) /x]sf] 5 / ;f] b/df Jofkfl/s pTkfbg z'? x'g] ldltsf] Ps jif{ kZrft\ k|lt jif{ # k|ltztsf lx;fjn] * k6s a[l4 x'g]5 .

o ;Demf}tf eGbf a9L ljB't pTkfbg eO{ laqmL ul/Pdf ;f] ;dodf sfod b/sf] krf; k|ltztsf b/n] e'QmfgL k|fKt x'g] .

o Jofkfl/s pTkfbg z'? x'g] ldltdf ljB't cfk"lt{ ug{ g;s]df jf cfk"lt{ ul/Psf] ljB't lng g;s]df % k|ltzt xhf{gfsf] Joj:yf ul/Psf] .

5

o ljB't vl/b laqmL ;Demf}tf lnp jf lt/ -6]s c/ k]_ df cfwfl/t 5 / glnP jf glbPdf Ifltk"lt{sf] Joj:yf ul/Psf] .

sfj]nL P hnljB't cfof]hgfM • hl8t IfdtfM #&=^ d]ufjf6 • ljB't pTkfbg cg'dltkq k|fKt ldltM @)^(÷)%÷@! • ljB't pTkfbg cg'dltkq axfn /xg] cjwLM @!)$ efb| @) ;Dd . • laB't vl/b laqmL ;Demf}tf ldltM @)&@.^.& • laB't vl/b laqmL ;Demf}tf axfn /xg] cjwLM ;Demf}tf ldltn] @% aif{ • Olkl; 7]Ssf ;Demf}tf ldltM l;len / xfO{8«f]d]sflgsnsf] nflu @)&@ cflZjg @% df tyf

On]S6«f]d]sflgsnsf] nflu @)&# efb| @@ df . • cfof]hgfsf] lgdf{0f k|f/De ldltM @)&# r}q !@ • Jofkfl/s?kdf ljB't pTkfbg k|f/De x'g] ldltM @)&^ kmfu'g # • cg'dflgt s'n nfutM ?= ( c/j ^) s/f]8 • k|lt d]ufjf6 nfutM ?= @% s/f]8 %) nfv • shf{ nufgL lkmtf{ x'g] -Pay Back_ cjwLM cGt/fli6«o ljQ lgudsf] xsdf !# jif{ / ljZj

a}+ssf] xsdf @# jif{ . • ljB't v/Lb laqmL ;Demf}tfsf] d'Vo ljj/0f b]xfo adf]lhd 5 .

o ljB't vl/b laqmL b/ k|lt o'lg6 ^=@( cd]l/sL ;]G6 /x]sf] 5 . ;f] b/df Jofkfl/s pTkfbg z'? x'g] ldltsf] Ps jif{ kZrft\ k|lt jif{ # k|ltztsf lx;fjn] !) k6s a[l4 x'g]5 .

o ljB't ljqmLaf6 k|fKt x'g] cfDbfgL dWo] ^) k|ltzt cd]l/sL 8n/df / $) k|ltzt g]kfnL ?lkofFdf k|fKt x'g]5 .


o Jofkfl/s pTkfbg z'? x'g] ldltdf ljB't cfk"lt{ ug{ g;s]df jf cfk"lt{ ul/Psf] ljB't lng g;s]df $% k|ltzt xhf{gfsf] Joj:yf ul/Psf] .

o ljB't vl/b laqmL ;Demf}tf lnp jf lt/ -6]s c/ k]_ df cfwfl/t 5 / glnP jf glbPdf Ifltk"lt{sf] Joj:yf ul/Psf] .

lemd?s hnljB't s]Gb|M • hl8t IfdtfM !@ d]ufjf6 • ljB't pTkfbg, k|;f/0f tyf ljt/0f cg'dltkq k|fKt ldltM @)%@ kf}if !( • ljB't pTkfbg, k|;f/0f tyf ljt/0f cg'dltkq axfn /xg] cjwLM @!)@ r}q d;fGt ;Dd • laB't vl/b laqmL ;Demf}tf axfn /xg] cjwLM @!)@ r}q d;fGt ;Dd . • laB't pTkfbg ldltM @)%! efb| ! • s'n nfutM ?= ! c/j ^ s/f]8 • k|lt d]ufjf6 nfutM ?= * s/f]8 *# nfv • shf{ nufgL lkmtf{ x'g] -Pay Back_ cjwLM ;dfKt e} ;s]sf] • ljB't v/Lb laqmL ;Demf}tfsf] d'Vo ljj/0f b]xfo adf]lhd 5 .

o ljB't vl/b laqmL b/ M k|lt o"lg6 ? %=@#^ /x]sf] 5 . o ;Demf}tf eGbf a9L ljB't pTkfbg eO{ laqmL ul/Pdf ;f] ;dodf sfod b/n]

e'QmfgL k|fKt x'g] .

6

• ljB't vl/b laqmL ;Demf}tf lnp jf lt/ -6]s c/ k]_ df cfwfl/t 5 / glnP jf glbPdf Ifltk"lt{sf] Joj:yf ul/Psf] .

cf+lwvf]nf hnljB't s]Gb| M

• hl8t IfdtfM %=! d]ufjf6 df ldlt @)&! r}q @@ b]lv $=# d]ufjf6 yk u/L (=$ d]ufjf6 k'/\ofO{ Ifdtf clea[l4 u/]sf] .

• ljB't pTkfbg cg'dltkq k|fKt ldltM @)%@ a}zfv * • ljB't pTkfbg cg'dltkq axfn /xg] cjwLM @!)! r}q d;fGt ;Dd • laB't pTkfbg ldltM @)$* a}zfv • laB't vl/b laqmL ;Demf}tf axfn /xg] cjwLM @!)! r}q d;fGt ;Dd . • s'n nfut -jLdf ul/Psf] d'No_M ?=! c/j *! s/f]8 • k|lt d]ufjf6 nfutM ?= !( s/f]8 @% nfv • shf{ nufgL lkmtf{ x'g] -Pay Back_ cjwLM * jif{ -(=$ d]ufjf6 Ifdtf a[l4 u/]kl5_ • ljB't v/Lb laqmL ;Demf}tfsf] d'Vo ljj/0f b]xfo adf]lhd 5 .

o ljB't vl/b laqmL b/ M z'?sf] %=! d]ufjf6sf] nflu k|lt o'lg6 ?= $=$* tyf yk $=# d]ufjf6sf] nflu ;'Vvf ofddf k|lt o'lg6 ?= *=$) / jiff{ ofddf k|lt o"lg6 ?=$=*) /x]sf] 5 / ;f] b/df Jofkfl/s pTkfbg z'? x'g] ldltsf] Ps jif{ kZrft\ k|lt jif{ # k|ltztsf lx;fjn] ( k6s a[l4 x'g]5 .


• ljB't vl/b laqmL ;Demf}tf lnp jf lt/ -6]s c/ k]_ df cfwfl/t 5 / glnP jf glbPdf Ifltk"lt{sf] Joj:yf ul/Psf] .

r_ ;+ul7t ;+:yfsf] s'g} ;xfos sDkgL ePdf ;f] ;xfos sDkgLsf] gfd, Oltxf; / To;sf d"Vo

p2]Zox?sf ;fy} To;df ePsf] nufgLsf] c+z -k|ltztdf_ M qm=;+= gfd :yfkgf ePsf]

ldlt d"Vo p2]Zox? nufgLsf] c+z

! xfO8«f] sG;N6 OlGhlgol/Ë lnld6]8

lj==;+= @)%% df k|f=ln sf] ?kdf :yfkgf eO{ lj= ;+= @) ( df klAns lnld6]8 sDkgLdf kl/0ft

ePsf] .

OlGhlgol/+ª k/fdz{ ;]jf k|bfg ug]{ .

*) k|ltzt

@ g]kfn xfO8«f] tyf On]lS6«s lnld6]8 lj==;+= @)$@

ljB't cfof]hgfx?sf] oGq pks/0fx? pTkfbg, cfk"lt{, h8fg tyf dd{t ;+ef/ ug]{ .

%!=# k|ltzt

# v'bL xfO8«f]kfj/ lnld6]8 lj==;+= @) # hnljB't pTkfbg tyf laqmL ug]{ . ) k|ltzt

$ lalkl; ;le{;]h lnld6]8 lj==;+= @) # laB't u[x, k|zf/0f tyf ljt/0f nfO{g tyf ;'ljwfx?sf] u'0f:t/Lo dd{t ;+ef/ ;]jf k|bfg ug]{ .

!)) k|ltzt

% sfj]nL OghL{ lnld6]8 lj==;+= @) hnljB't kl/of]hgf ;++rfng ug]{ . %%= k|ltzt

GofbL xfO8«f]kfj/ lnld6]8 lj==;+= @) # GofbL hnljB't cfof]hgfjf6 ljB't pTkfbg u/L laqmL ug]{ .

(&=@@ k|ltzt

7

5_ b]xfosf s'/fx? ;d]t pNn]v ug'{kg]{ -nfu" x'g] xb;Dd_ 1. ;+ul7t ;++:yfn] pTkfbg ug]{ j:t' jf k|bfg ug]{ ;]jfx? M hnljB't pTkfbg, k|;f/0f tyf laqmL ljt/0f . 2. k|of]u ePsf] jf ul/g] k|ljlw M ;+rfngdf /x]sf ljB't u[xx?sf] l8hfO{g cg';f/ cfjZos k|ljwLx? k|of]udf NofOPsf] / ;f]

laB't u[xx? lgoldt?kdf ;+rfngdf 5g\ . ljB't ljt/0fnfO{ Jojl:yt agfpg ;d]tsf nflu km\ofS6 O/fkL, PPdP;, cfO{PdP; tyf /f; ;km\6j]o/x?sf] k|of]u ul/Psf] 5 . GofbL tyf sfj]nL P hnljB't cfof]hgfx?df ;f] cfof]hgfx?sf] l8hfO{g cg';f/sf] k|ljwL k|of]u ul/g]5 / lt cfof]hgfx?jf6 Jofkfl/s pTkfbg z'? x'g'k"j{ k|of]u ePsf pks/0f tyf k|ljwLsf] g]kfn ljB't k|flws/0fsf k|fljlws k|ltlgwLx?sf] /f]xj/df ljleGg k/LIf0fx? u/L ljB't pTkfbg tyf laqmL ul/g]5 .

3. s'g} j|fG8g]d, k|ltlnlk clwsf/, 6«]8dfs{, Ohfhtkq, k|fljlws ;xof]u ;Demf}tf / ;+ul7t ;++:yf;Fu ;DalGwt af}l4s ;DklQ xs clwsf/ M k]6]06, l8hfog / 6«]8dfs{ P]g, @)@@ sf] bkmf !* adf]lhd sDkgLn] ju{ ( cGtu{t Hydro Electricity df nufO{ /fv]sf]÷nufpg] ePsf] BPC (and logo) 6«]8dfs{ btf{ ul/Psf] .

4. ;+ul7t ;++:yfn] cf]u6]sf] ahf/ If]q M o; sDkgLn] Ko"7fg, c3f{vfrL, kfNkf / :ofËhf lhNnfsf :yfgLo pkef]Qmfx?nfO{ ljB't ljqmL ljt/0f ul//x]sf] 5 .

5. gofF pTkfbg tyf ;]jf ;DaGwL of]hgf M o; sDkgLn] cf gf]sfo{ If]q ;'xfpFbf] ljleGg sDkgLx¿ ;Fusf] ;+o'Qm nufgLdf cf gf] p2]Zo k|flKtsfnflu Joj;flos ?kdf ;DefJo b]lvPsf gofF hnljB't cfof]hgfx?df nufgL u/L g]kfnsf] hnljB't If]qdf Ps cu|0fL sDkgLsf] ?kdf ljsf; ug]{ of]hgf /x]sf] 5 .

6. pTkfbg tyf ;]jfsf] k|d'v ahf/ / To;sf] dfu / laqmL ljt/0fsf] tl/sf M sDkgLn] Ko"7fg, c3f{vfrL, kfNkf / :ofËhf lhNnf cGtu{t cjl:yt ljB't pTkfbg ug]{ s]Gb|af6 pTkfbg ug]{ ljB't g]kfn ljB't k|flws/0f;+u ljB't v/Lb laqmL ;Demf}tf u/L /fli6«o k|zf/0f nfO{g dfkm{t laqmL ljt/0f ug]{ Joj:yf ldnfO{Psf] 5 eg] sDkgLsf] k|d'v ahf/ g]kfn /fHoe/ /x]sf] 5 .

7. pTkfbg÷;~rfng Ifdtf / ;f]sf] pkef]u l:ylt M xfn !@ d]ufjf6sf] lemd?s hnljB't s]Gb| / (=$ d]ufjf6sf] cfFlwvf]nf hnljB't s]Gb| k"0f{ Ifdtfdf ;+rfng eO{/x]sf] 5 . sDkgL cf gf] cfufdL of]hgf cg';f/ Ifdtf lj:tf/ ug{ ;Ifd /x]sf] 5 .

8. sRrf kbfy{sf] >f]t, lsl;d / pknAwtf M Ko'7fg / :ofËhf lhNnfl:yt lemd?s tyf cFflwvf]nf gbL÷vf]nfsf] k|fs[lts jxfjdf cfwfl/t kfgL g} sRrf kbfy{sf] >f]tsf] ?kdf /x]sf] 5 .

9. u'0f lgoGq0fsf] nflu ul/Psf] Joj:yf M hnljB't ;+/rgf / ljB't pks/0fx? pko'Qm cj:yfdf /fVg cfjZos Joj:yf ul/Psf] .

10. cg';Gwfg tyf ljsf; M hf]lvdsf] Joj:yfkg (Risk Management), u|fxs ;Gt'i6L (Customer Satisfaction ) / ;]jf k|bfo (Service Delivery) sf] pTs'i6tf tyf gofF cfof]hgf ljsf;sfnflu cfjZos cg';Gwfg tyf ljsf;sf] lg/Gt/ k|lqmof sDkgLdf ljBdfg /x]sf] 5 .

11. ljut !@ dlxgfsf] cjlwdf ;+:yfsf] ;+rfngdf c;/ kg]{ u/L ePsf] afwf, Jojwfg M ;f] gePsf] .

12. dhb'/ ;+u7g;Fusf] ;DaGw / ljutdf s'g} cf}Bf]lus ljjfb ePsf] eP, ;f] ;DaGwL ljj/0f M ;f] gePsf] .

13. ahf/, k|lt:kwf{ / cGo ;dfg pBf]ux? aLr ;+ul7t ;+:yfsf] l:ylt M g]kfn ljB't k|flws/0f ;+u phf{ v/Lb ;Demf}tf ePsf]n] ahf/sf] ;d:of gePsf] .

!$= k|d'v u|fxsx?sf] ljj/0f -h:t}M ;+:yfsf] s'n sf/f]af/df !)% jf ;f] eGbf a9Ln] of]ubfg ug]{ jf Joj;fosf] nflu ;+ul7t ;+:yf s'g} k|d'v u|fxs;Fu lge{/ 5 eg] t\t;DaGwL ljj/0f ._ M k|d'v u|fxsdf g]kfn ljB't k|flws/0f /x]sf] 5 .

!%= k|d'v ;Knfo;{x?sf] ljj/0f -h:t}M ;+:yfsf] s'n sf/f]af/df !)%jf ;f] eGbf a9Ln] of]ubfg ug]{ ;Knfo;{ jf Joj;fosf] nflu ;+ul7t ;+:yf s'g} k|d'v ;Knfo;{;Fu lge{/ 5 eg] tt\;DaGwL ljj/0f M ;f] gePsf] .

v_ ;DklQsf] ljj/0f M -s_ ;+ul7t ;+:yfsf] pks/0f -KnfG6_ tyf cGo ;DklQ /x]sf] :yfg / pks/0f tyf ;DklQsf] cj:yf M

lemd?s hnljB't s]Gb|M

8

pks/0f tyf ;DklQsf] ljj/0fM hUuf, ejgx?, KnfG6 / d]l;g/L, 6«fG;ld;g / l8l:6«Jo';g nfOg, l:jlr+u ;j:6]zg /x]sf] :yfgM Ko"7fg lhNnf, dGbfeL uflj; j8f g+= % / Ko"7fg gu/kflnsf, j8f g+= ! cj:yfM rfn' / /fd|f] cj:yfdf /x]sf] nfut d'NoM ? ! ca{ ^ s/f]8

cf+lwvf]nf hnljB't s]Gb|M

pks/0f tyf ;DklQsf] ljj/0fM hUuf, ejgx?, KnfG6 / d]l;g/L, 6«fG;ld;g / l8l:6«Jo';g nfOg, l:jlr+u ;j:6]zg /x]sf] :yfg M :of+Uhf lhNnf, uNof+u gu/kflnsf j8f g+= #, !! / & cj:yf M rfn' / /fd|f] cj:yfdf /x]sf] nfut d'NoM ? ! ca{ *! s/f]8

skf]{/]6 sfof{noM

pks/0f tyf ;DklQsf] ljj/0fM hUuf, ejg tyf sfof{no ;fdfgx? /x]sf] :yfg M j8f g+ !), a'4gu/, sf7df08f} . cj:yf M /fd|f] . nfut d'NoM ? (# s/f]8

a'6jn k|ltlgwL sfof{noM

pks/0f tyf ;DklQsf] ljj/0fM hUuf, ejg tyf sfof{no ;fdfgx? /x]sf] :yfg M d]g/f]8, a'6jn . cj:yf M /fd|f] nfut d'NoM ? !=% s/f]8

-v_ a'Fbf -s_ df pNn]lvt ;DklQ ;+ul7t ;+:yfsf] cf g} ;DklQ xf] of lnhdf lnPsf], lnhdf lnPsf] eP lnhsf] cjlw -ldlt ;d]t pNn]v ug'{kg]{_ M dfly pNn]lvt ;DklQ sDkgL cf g} /x]sf] 5 .

-u_ olb ;DklQ ;+ul7t ;+:yfsf] :jfldTjdf /x]sf] ePdf pQm ;DklQ dfly s'g} lnog jf df]6{u]h eP ;f] ;DaGwL ljj/0f M o; sDkgLsf] cf+wLvf]nf kl/of]hgfsf] Ifdtf j[l4 tyf skf]{]/]6 ejg lgdf{0fsf] nflu shf{ ;ljwf k|fKt ug{ pQm ;DklQ lnogdf /x]sf] .

-3_ cfly{s jif{ ;dfKt eP kZrft ljj/0fkq af]8{df k]z ul/Psf] ldltdf ;+ul7t ;+:yfsf] ;DklQsf] lstfaL d"No / ahf/ d"NoaLr km/s ePdf ;f] sf] ljj/0f M sDkgLsf] ;Dk"0f{ ;DklQ jf:tljs vr{sf] lx;fjdf sfod ul/Psf] 5 / ;f]sf] k'gd"{"Nof+sg ul/Psf] 5}g .

-ª_ ;DklQsf] d"Nof+sg ul/Psf] tl/sf ;DaGwL ljj/0f M ;f] gePsf] .

u_ efjL of]hgf tyf /0flgtLM

s_ Joj;fo÷;]jfsf] j[l4sfnflu ;+:yfsf] efjL of]hgf / To:tf] of]hgfsf] k|flKtsf nflu rflng] ;doj4 /0fgLtL M

sDkgLn] ;xfos tyf ;Da4 sDkgL dfkm{t lgdf{0f ub}{ u/]sf b'O{ cfof]hgfx?M GofbL hnljB't cfof]hgf -#) d]=jf_ / sfj]nL P hnljB't cfof]hgf -#&= d]=jf=_ df s'n ?= !*& =@) s/f]8 nufgL ug'{kg]{ b]lvPsf] 5 . To;sf ;fy} sDkgL;+u dgfª lhNnfdf nf]c/ dgfª d:of{ªbL hnljB't cfof]hgf -!)) d]=jf=_ / lrgf]vf]nf hnljB't cfof]ghf -*=% d]=jf=_ u/L b'O{ cfof]hgfx? 5g\ . h;dWo] nf]c/ dgfª d:of{ªbL hnljB't cfof]hgf pTkfbg cg'dltkq lng] k|lqmofdf /x]sf] 5 eg] lrgf]vf]nf hnljB't cfof]hgf jftfj/0fLo k|efj d'Nof+sg k|ltj]bgsf] :jLs[ltsf] qmddf /x]sf] 5 .

9

pNn]lvt cfwf/x?df gofF lgisfzgjf6 k|fKt x'g] ?= $)=*! s/f]8 / ;f] z]o/df lk|ldod jfkt k|fKtx'g] /sdx? GofbL hnljB't cfof]hgf / sfj]nL P hnljB't cfof]hgfdf z]o/ nufgLsfnflu pkof]u ul/g] 5 . ;f] pkof]u kZrft\ s'g} /sd afFsL x'g cfPdf sDkgLsf] k"0f{ :jfldTj tyf ;+rfngdf /x]sf] cFflwvf]nf Ifdtf j[l4 cfof]hgf -(=$ d]=jf=_ tyf sDkgLsf] sfof{no ejg lgdf{0f cfof]hgfsfnflu lnOPsf] C0f r'Qmf ug{sfnflu pkof]u ug{ ;lsg] 5 . gofF lgisfzg dfkm{t k|fKt x'g] /sd gk'u ePdf sDkgLsf] cfo>f]tjf6 a]xf]g{ ;lsg]5 . of] of]hgf sfo{Gjogsfnflu b]xfo adf]lhdsf /0fgLltx? clVtof/ ul/g]5M M

!= sDkgLn] gofF lgisfzg dfkm{t k|fKt x'g] /sd GofbL hnljB't cfof]hgf / sfj]nL P hnljB't cfof]hgfdf sDkgLsf] z]o/ nufgL k|ltj4tf adf]lhd GofbL xfO8«f]kfj/ ln=, u'/Ff; OghL{ ln=/ sfj]nL OghL{ ln= dfkm{t nufgL ug{sfnflu pkof]u ug]{ .

@= gofF lgisfzg dfkm{t k|fKt x'g] /sdsf] k|efjsf/L ljQLo Joj:yfkgdf plrt Wofg lbg] . #= GofbL hnljB't cfof]hgf / sfj]nL P hnljB't cfof]hgfdf :jM k"FhLsf] cfjZostf adf]lhd GofbL xfO8«f]kfj/ ln=, u'/Ff; OghL{ ln= / sfj]nL OghL{ ln= df z]o/ nufgLsf] ?kdf /sd lbg] tyf e'QmfgL ug]{ .

$= gofF lgisfzg dfkm{t k|fKt x'g] /sd GofbL hnljB't cfof]hgf / sfj]nL P hnljB't cfof]hgfsf nflu ckof{Kt ePdf sDkgLn] ;f] sf] nflu pko'Qm pkfox? cjnDjg ug]{ .

%= gofF lgisfzg dfkm{t k|fKt x'g] /sd hnljB't cfof]hgf / sfj]nL P hnljB't cfof]hgfdf pkof]u kZrft\ afFsL /x]sf] v08df cFflwvf]nf Ifdtf j[l4 cfof]hgf -(=$ d]=jf=_ tyf sDkgLsf] sfof{no ejg lgdf{0f cfof]hgfsfnflu lnOPsf] C0f r'Qmf ug{sfnflu pkof]u ug{ ;lsg] . = ;fy}, afFsL x'g cfPsf] /sd pNn]lvt b'O{ gofF cfof]hgfx?df k|rlnt sfg"g tyf lgodx?sf] clwgdf /xL pkof]u ug{ ;lsg] .

-v_ k|lt:kwf{, ljBdfg cfly{s l:ylt / ;dfg lsl;dsf] pBf]usf] l:yltsf] cfwf/df ;+ul7t ;+:yfsf]

Joj;fosf] eljio M b]zdf ljut Ps bzsb]lv xfn;Dd ljB't cfk"lt{sf] sdL /x]sf] k[i7e"lddf hnljB't cfof]hgf lgdf{0f ug{' cfkm}df ;x|fgLo sfd ePsf] / ljB't pTkfbg k"j{ g} ljB't v/Lb laqmL ;Demf}tf ;DkGg x'g'n] o; If]qdf cGo ;dfg lsl;dsf pBf]u;Fu k|ltikwf{ g/xg] x'Fbf o; sDkgLn] hnljB't If]qdf cf gf] cnu klxrfg :yflkt ug{ ;kmn x'g]5 .

3_ ;+rfns ;ldltsf] ;+/rgf / k|ltlglwTj ;DjGwL Joj:yf M

;+rfns ;ldltsf] ;+/rgf, ;+rfnsx?sf] of]Uotf / k|ltlglwTj tyf ;+rfns x'gsf] nflu lng'kg]{ Go"gtd z]o/ ;+Vof ;DaGwL Joj:yf M ;~rfns ;ldltdf k|ltlglwTj b]xfo adf]lhd /x]sf] 5 .

;+:yfks ;d"x s z]o/wgLx?af6 ! -Ps_ hgf ;d"x v z]o/wgLx?af6 % -kfFr_ hgf ;j{;fwf/0f z]o/wgLx? ;d"x u af6 lgjf{lrt ! -Ps_ hgf :jtGq ;~rfns ! -Ps_ hgf hDdf * -cf7_ hgf yk ;fj{hlgs lgisfzg kZrft\ ;a{;fwf/0f z]o/wgLx?af6 k|ltlglwTj ug]{ ;+rfnssf] ;+Vof b'O{ x'g] u/L sDkgLsf] lgodfjnL cfjZos ;+zf]wg ul/g]5 . ;+rfns x'gsf] nflu lng'kg]{ Go"gtd z]o/ ;+Vof ;DaGwL Joj:yf M o; sDkgLsf] lgodfjnLdf Joj:yf eP cg';f/ sDkgLsf] ;~rfns kbdf lgo'Qm x'gsf] lgldQ sDtLdf %) -krf;_ lsQf z]o/ lnPsf] x'g'kg]{5 . t/ ;+ul7t ;+:yfsf] tkm{af6 lgo'Qm x'g] ;~rfnsx?nfO{ z]o/ lnPsf] x'g'kg]{ 5}g .

$= k"FhL ;+/rgf ;DaGwL hfgsf/L M s_ clws[t, hf/L tyf r'Qmf k"FhL / ;+:yfsf] :yfkgf kZrft\ ;f] df kl/jt{g ePsf] eP tt\;DaGwL

10

ljj/0f M clws[t k"FhL M o; sDkgLsf]] clws[t z]o/ k"FhL ?= *,)),)),)),)))÷– -cIf/]kL cf7 cj{ ?k}ofF_ nfO{ k|lt z]o/ ?= !))÷– -cIf/]kL Ps;o ?k}ofF_ clÍt d"Nosf *,)),)),))) -cIf/]kL cf7 s/f]8_ lsQf z]o/x?df ljefhg ul/Psf] 5 . hf/L k"FhL M o; sDkgLsf] hf/L z]o/ k"FhL ?= @,@@,)@,@%,)))÷– -cIf/]kL b'O{ cj{ afO{; s/f]8 b'O{ nfv klRr; xhf/?k}ofF_ nfO{ k|lt z]o/ ?= !))÷– -cIf/]kL Ps ;o ?k}ofF_ clÍt d"Nosf @,@@,)@,@%) -cIf/]kL b'O{ s/f]8 afO{; nfv b'O{ xhf/ b'O{;o krf;_ lsQf z]o/x?df ljefhg ul/Psf] 5 . r'Qmf k"FhL M o; sDkgLsf] r'Qmf k"FhL xfn !,*!,)%,&@,))),– -cIf/]kL Ps ca{ Psf;L s/f]8 kfFr nfv axt/ xhf/ ?k}ofF_ /x]sf] 5 . o; yk ;fj{hlgs lgisfzg dfkm{t z]o/ lgisfzg u/L afF8kmfF8 u/] kZrft\ sDkgLsf] r'Qmf k"FhL ?= @,@!,* ,&@,)))÷– -cIf/]kL b'O{ cj{ PsfO{; s/f]8 5of;L nfv axt/ xhf/ ?k}ofF_ /xg]]5 .

clws[t, hf/L tyf r'Qmf k"FhLdf eO{ cfPsf]÷kl/jt{g ePsf] eP tt\;DaGwL ljj/0f M sDkgLsf] :yfkgf kZrft\ k"FhLdf ePsf] kl/jt{g ;DaGwL ljj/0f M

qm=;+ cf= j= clws[t k"FhL Hff/L k"FhL r'Qmf k"FhL 1 2045/46 1,50,00,00,000 1,40,00,00,000 83,90,57,700 2 2066/67 8,00,00,00,000 1,69,00,00,000 92,29,67,500 3 2067/68 8,00,00,00,000 1,69,00,00,000 1,01,52,69,400 4 2068/69 8,00,00,00,000 1,70,00,00,000 1,01,52,69,400 5 2072/73 8,00,00,00,000 1,70,00,00,000 1,67,32,22,700 6 2073/74 8,00,00,00,000 2,10,02,25,700 1,81,05,72,000 7 2073/74 8,00,00,00,000 2,22,02,25,000 2,21,86,72,000

v_ lgisfzg kl5sf] r'Qmf kF"hL -;d"xs[t ul/Psf] cj:yfdf ;f]xL cg'?k_ M

yk ;fj{hlgs lgisfzg -kmb{/ klJns O:o"_ ug{''k"j{ sDkgLsf] r'Qmf k"FhLsf] ;+/rgf b]xfo adf]lhd /x]sf] 5 M ;d"x z]o/wgLx? z]o/ ;+Vof kF"hL;+/rgf r'Qmf /sd -?=_ e'QmfgL k|ltzt s ;+:yfks z]o/wgLx? 21,51,564 11.88% 21,51,56,400 zt\k|ltzt v z]o/wgLx? 1,35,79,099 75.00% 1,35,79,09,900 zt\k|ltzt

u ;j{;fwf/0f z]o/wgLx? -sd{rf/L ;lxt_

23,75,057 13.12%

23,75,05,700 zt\k|ltzt

hDdf 1,81,05,720 100% 1,81,05,72,000 zt\k|ltzt gofF lgisfzg -kmb{/ klJns O:o'_ u/L afF8kmfF8 u/] kZrft sDkgLsf] r'Qmf k"FhLsf] ;+/rgf b]xfo adf]lhd x'g]5 M

;d"x z]o/wgLx? z]o/ ;+Vof kF"hL;+/rgf r'Qmf /sd -?=_ e'QmfgL k|ltzt s ;+:yfks z]o/wgLx? 2,151,564 9.70% 215,156,400 ztk|ltzt v z]o/wgLx? 13,579,099 61.20% 1,357,909,900 ztk|ltzt

u ;j{;fwf/0f z]o/wgLx? -sd{rf/L ;lxt_

6,456,057 29.10% 645,605,700 ztk|ltzt

hDdf 22,186,720 !))Ü 2,218,67,200.00 ztk|ltzt u_ z]o/ lk|ldod vftf -lgisfzg k"j{ / lgisfzg kZrft\_ M

qm=;+= Zf]o/wgL lgisfzg k"j{ lgisfzg kZrft ! z]o/ lk|ldod vftf !%,#),#&,*#( 1,789,518,839

%= ;+:yfks÷;+rfns ;DaGwL hfgsf/L M s_ ;+:yfks÷;+rfnssf] k[i7e"dLM

s_ cfwf/e"t z]o/wgLx? tyf ;+rfnsx?sf] gfd, kb, pd]/, /fli6«otf, 7]ufgf, z]o/ :jfldTj, z}lIfs of]Uotf, cg'ej, / k|:tfljt Jofkf/÷Joj;fodf cg'ej M

cfwf/e"t z]o/wgLsf] ljj/0f M

qm=;+= Gffd÷7]ufgf kb /fli6«otf z]o/

:jfldTj z}lIfs of]Uotf

cg'ej -;DalGwt jf

11

cGo_

! g]kfn ;/sf/ nfu' gx'g] !^,$%,*(( nfu' gx'g] nfu' gx'g]

@ ;f+lu|nf OghL{ lnld6]8, gS;fn, sf7df08f}

nfu' gx'g] !@$*$,)^% nfu' gx'g] nfu' gx'g]

# cfO{s]Pg g]kfn P=P;=,gj]{ nfu' gx'g] #,%),$!! nfu' gx'g] nfu' gx'g]

$ o'gfO{6]8 ld;g 6' g]kfn, yfkfynL, sf7df08f}

nfu' gx'g] #,)#,@## nfu' gx'g] nfu' gx'g]

% g]kfn ljB't k|flws/0f, /Tgkfs{, sf7df08f}

nfu' gx'g] !,(!,@@% nfu' gx'g] nfu' gx'g]

;~rfnssf] ljj/0f M

qm=;+= Gffd kb pd]/ /fli6«otf 7]ufgf z]o/

:jfldTj z}lIfs of]Uotf

cg'ej -;DalGwt jf cGo_

!= >L kb\d Hof]lt

-;f+lu|nf Oglh{ lnld6]8sf] tkm{af6 k|ltlglwTj _

cWoIf &) g]kfnL hdn, sf7df8f}+

!,!%,(*% la= 6]s=÷ Pd= la= P=,

phf{ If]qdf !% jif{ ;lxt pBf]u tyf Jofkf/ Joj;fodf $% jif{ eGbf a9Lsf] cg'ej

@= >L k|bLk s'df/ >]i7


;+rfns %^ g]kfnL emfkf !,!%,(*% Pd=la=P=, phf{ If]qdf !% jif{ ;lxt pBf]u tyf

jfl0fHodf #@ jif{ eGbf a9Lsf] cg'ej

#= >L /flhj /fhe08f/L


;+rfns %( g]kfnL b/jf/dfu{, sf7df8f

%(,()& la= sd= cg;{

phf{ If]qdf !% jif{ ;lxt Jofkf/ tyf jfl0fHo If]qdf @& jif{eGbf

a9Lsf] cg'ej

$= >L ljho s[i0f >]i7


;+rfns ^* g]kfnL If]qkf6L, sf7df8f}+

!,! ,!*& lj= O{= O{=, Pd= la= P

phf{ If]qdf !) jif{ ;lxt a}+lsË, sDo"lgs]zg, OG:of]/]G;, phf{ / O{n]S6«f]lgS; If]qdf # eGbf a9Lsf]]

cg'ej

% >L cf]d k|sfz >]i7


;+rfns %& g]kfnL dLgejg, sf7df8f}+

la= O{=— l;len,

phf{ If]qdf & jif{ ;lxt lgdf{0f tyf Jofkf/ Joj;fodf @( jif{sf] cg'ej

>L lr/lGhlj r6f}t -g]kfn ;/sf/ tkm{af6

k|ltlglwTj _ ;+rfns $* g]kfnL

rf+u'gf/fo0f, eQmk'/

Pd= 6]s—hn;|f]t ljsf;

;x;lrj, phf{ dGqfno, g]kfn ;/sf/

phf{ If]qdf @! jif{ eGbf a9Lsf] cg'ej

& >L r08L k|;fb >]i7

-;j{;fwf/0f z]o/wgLaf6 lgjf{lrt _

;+rfns ^@ g]kfnL 3§]s'nf], sf7df8f}+

@(# Pd= la= P=, k"j{ ;lrj, g]kfn ;/sf/

cy{, pBf]u / jfl0fHo If]qdf @* jif{ eGbf al9sf] cg'ej

* >L lbjfs/ a}B

-:jtGq ;~rfns_ ;+rfns ^% g]kfnL nugv]n, nlntk'/

Pd=P:;L—On]lS6\\|sn

phf{ If]qdf ## jif{ eGbf al9sf] cg'ej

( >L ljho axfb'/ >]i7


j}slNks ;~rfns

^! g]kfnL ljzfngu/, sf7df8f}+

!,@#,$$& Pd= la= P=

phf{ If]qdf !! jif{ ;lxt cfoft If]qdf #! jif{sf] cg'ej / Soflk6n dfs]{6, a}+lsË, kmfOgflG;on /

OG:of]/]G; If]qdf ! jif{ eGbf a9Lsf] cg'ej

12

!) >L ;+lhj /fhe08f/L


j}slNks ;~rfns

%& g]kfnL b/jf/dfu{, sf7df8f}+

%&,((@ la= sd • ;'rgf k|ljlw tyf Jofkf/ If]qdf @*

jif{eGbf a9Lsf] cg'ej gf]6M yk ;fj{hlgs lgisfzg kZrft\ ;f+lu|nf Oglh{ lnld6]8sf] tkm{af6 k|ltlglwTj ug]{ xfn sfod kfFr hgf ;+rfnsx? dWo] rf/ hgfdfq sfod x'g]5 . -gf]6M o;df pNn]lvt cg'ej ;DjGwL ljj/0fkq btf{sf] qmddf sDkgL /lhi6«f/sf] sfof{nojf6 k|fKt lgb]{zg jdf]lhd ldnfOPsf] ._

v_ ;+:yfksx? s'g} sDkgL÷;+:yf ePdf To:tf] sDkgL÷;+:yfsf] gfd tyf 7]ufgf ;lxtsf] ;+lIfKt ljj/0f / pQm sDkgL÷;+:yfsf ;+rfnsx?sf] gfd, 7]ufgf, -k|fs[lts AolQm gv'n];Dd_ M o; sDkgLfsf] ;+:yfks sDkgL÷;+:yfsf] gfd tyf 7]ufgf tyf pQm sDkgL tyf ;+:yfsf ;~rfnsx?sf] gfd tyf 7]ufgf ;DaGwL ljj/0f b]xfo adf]lhd /x]sf] 5 M

qm=;+ Zf]o/wgLsf] gfd kb g]kfn ;/sf/, dxfn]vf lgoGqssf] sfof{no, aa/dxn, sf7df8f}+

g]kfn laB't k|flws/0f, b/af/dfu{ , sf7df8f}+ ! >L cg'k s'df/ pkfWofo, ;rLj, phf{ dGqfno, l;+xb/jf/, sf7df8f}+ cWoIf @ 8f= ZffGt /fh ;'j]bL, ;rLj cy{ dGqfno, l;+xb/jf/, sf7df8f}+ ;b:o # >L rGb| 608g, cw{vfFrL ;b:o $ >L pd]z k|;fb yfgL, ;'v]{t ;b:o % >L eQm axfb'/ k'g, ?s'd ;b:o >L r]t /fh hf]zL, afh'/f ;b:o

& >L s'n dfg l3l;Ë, b/jf/dfu{, sf7df8f}+ k|aGws ;~rfns PgcfOl8l; 8]enkd]06 a}+s lnld6]8, b/jf/dfu{, sf7df8f}+

! >L a}s'07 cof{n, ;x-;rLj cy{ dGqfno, l;+xb/jf/, sf7df8f}+ cWoIf @ >L d's'Gb /fh kGyL, cflGt/s /fh:j sfof{no k|d'v, If]q g+ @, sf7df8f}+ ;~rfns # >L k|lbk s'df/ sf]O/fnf, ;x-;rLj pBf]u dGqfno, l;+xb/jf/, sf7df8f}+ ;~rfns $ >L ;'gLn kf08], ;x-;rLj cy{ dGqfno, l;+xb/jf/, sf7df8f}+ ;~rfns % k|f= 8f= /df j:ofn, k|ltlglw, cy{ dGqfno, l;+xb/jf/, sf7df8f}+ ;~rfns >L lzjhL /fo ofbj, b/jf/dfu{, sf7df8f}+ sfo{sf/L k|d'v

o'gfO6]8 ld;g 6' g]kfn, yfkfynL, sf7df8f}+ != Joel Hafvenstein, yfkfynL, sf7df8f}+ Executive Director

u_ ;+ul7t ;+:yfsf] ;+rfnsx? cGo s'g} sDkgL, ;+:yf, sf]if, ;+u7g;Fu cfj4 eP To:tf] ;+rfns /

cfj4 ePsf] ;+:yfsf] gfd, 7]ufgf M qm=;+= Gffd sDkgL÷;+:yf

! >L kb\d Hof]lt

cWoIf, lxdfn cfO{/g P08 OG8li6«h k|f=ln cWoIf, efh'/Tg OlGhlgol/ª P08 ;]N; ln= ;~rfns, ;f+lu|nf Oglh{ lnld6]8 President, National Business Initiative

@ >L k|bLk s'df/ >]i7

k|aGw ;~rfns, k~rsGof l;d]G6 k|f=ln= k|aGw ;~rfns, k~rsGof Knfi6 k|f=ln= k|aGw ;~rfns, k~rsGof Knfli6s O08li6«h k|f=ln= k|aGw ;~rfns, k~rsGof /f]6f] df]N8 k|f=ln= k|aGw ;~rfns, k~rsGof l:6n k|f=ln= Honorary Consul, the Republic of South Africa Vice President, Confederaton of Nepalese Chamber of Commerce & Industries k"j{ cWoIf –g]kfn pBf]u jfl0fHo dxf;+3 ;~rfns, ;f+lu|nf Oglh{ lnld6]8

13

# >L /flhj /fhe08f/L

Director, Mercantile Traders ;~rfns, R.R.B Investment Pvt. Ltd. ;~rfns, ;f+lu|nf Oglh{ lnld6]8

$ >L ljho s[i0f >]i7

cWoIf ,Beltron Investment Pvt. Ltd. ;~rfns, NEVI Trade Links ;~rfns, lk|ldod OG:of]/]G; lnld6]8 ;~rfns, ;f+lu|nf Oglh{ lnld6]8

% >L lr/lGhLlj r6f}t

Joint Secretary, Ministry of Energy, GoN

^ >L ljho axfb'/ >]i7

;~rfns, ;f]N6L xf]6]n lnld6]8 ;~rfns, ;f+lu|nf Oglh{ lnld6]8 ;~rfns, Snowlion Carpet Pvt. Ltd

o; sDkgLsf ;+rfns To:t} vfnsf] cGo sDkgLsf] ;+rfns gePsf] / sDkgL P]g, @)^# sf] bkmf *( sf] pkbkmf -!_ -5_ df pNn]v ul/Psf] Joj:yf kfngf ul/Psf] 5 . -gf]6M o;df pNn]lvt ;+rfnsx? ;+nUg sDkgLsf] hfgsf/L ljj/0fkq btf{sf] qmddf sDkgL /lhi6«f/sf] sfof{nojf6 k|fKt lgb]{zg jdf]lhd ldnfOPsf] ._

3_ ;+:yfks÷;+rfnssf] xs x:tfGt/0f aGb]h ;DaGwL ljj/0f M -s_ z]o/jfnfn] sDkgLsf] z]o/ k|rlnt sfg"g adf]lhd lwtf] aGws /fv]df jf laqmL u/]df jf cGo s'g}

Joxf]/faf6 xs 5f]8L lbPdf xs k|fKt ug]{ JolQmn] ;f] sf] Joxf]/f z]o/jfnfsf] btf{ lstfadf hgfpgsf] lgldQ ;DjlGwt lnvt/ z]o/ k|df0f kq ;d]t /fvL P]g adf]lhd sDkgLdf b/vf:t lbg' kg]{5 .

-v_ s'g} z]o/afnf d/L jf lghsf] hfoh]yf ;fx"nfO{ bfdf;fxL u/fO{ jf cGo s'g{ sf/0fn] k|rlnt sfg"g adf]lhd sDkgLsf] z]o/df k|rlnt sfg"g adf]lhd c? s;}sf] xs x'g cfPsf] xs k|fKt ug]{ JolQmn] ;f] z]o/sf] bflvn vf/]hsf] nflu cfjZos k|df0f ;+nUg u/L P]g adf]lhd sDkgLdf b/vf:t lbg' kg]{5 .

-u_ v08 -s_ jf -v_ adf]lhd b/vf:t kg]{ cfPdf P]g adf]lhd ;fljsjfnfsf] gfd vf/]h u/L xfnjfnfsf] gfd btf{ ul/g] 5 / lwtf] aGws lbPsf]df ;f] sf] Joxf]/f lstfadf hgfO{ /flv z]o/jfnfn] lsg]sf] hgfp k|fKt ePkl5 jGwsf] nut s§L ul/g] 5 . z]o/sf] x:tfGt/0f ;DaGwdf xs afx]s ;DalGw s'g} s'/fsf] ljjfb k/]df clwsf/ k|fKt cbfntaf6 clGtd lg0f{o u/fO{ NofPkl5 ;f]xL lg0f{o adf]lhd ul/g] 5 .

-3_ z]o/sf] x:tfGt/0f jf lwtf] aGWfs /x]sf] Joxf]/f lstfjdf hgfpg P]g adf]lhd b:t'/ a'emfpg' kg]{5 . v_ ;+:yfks÷;+rfns ;Fusf] sf/f]af/ M

s_ ;+ul7t ;+:yfaf6 s'g} ;+:yfks÷;+rfnsn] k|ToIf jf ck|ToIf ?kdf s'g} j:t' jf ;'ljwf -cfly{s jf u}/cfly{s_ k|fKt u/]sf jf k|fKt ug]{ ePdf To:tf] j:t' jf ;'ljwfsf] k|s[lt / d"No / To:tf] ;'ljwf lbP afkt ;+ul7t ;+:yfn] s'g} ;DklQ, ;]jf k|fKt u/]sf] jf ug]{ ePdf tT;DaGwL ljj/0f M

;f] gePsf] . v_ a'Fbf -s_ df pNn]lvt j:t' jf ;'ljwfsf] d"No lgwf{/0f ug{ ckgfO{Psf] tl/sf M ;f] gePsf] .

^= ;Lldt bfloTj ;DaGwL ljj/0f M

of] sDkgL sDkgL P]g, @)^# cGtu{t :yflkt tyf ;~rflnt klAns lnld6]8 sDkgL xf] . o;df z]o/jfnfx?sf] bfloTj lghn] lnPsf] z]o/sf] c+lst d"Nosf ;Lldt 5 . o; sDkgLsf z]o/jfnfsf] bfloTj lghn] v/Lb u/]sf] jf v/Lb ug{ saf]n u/]sf] z]o/sf] clwstd /sd;Dd dfq ;Lldt /xg]5 .

14

&= ;+ul7t ;+:yfsf] sd{rf/L ;DaGwL hfgsf/L M s_ ;+ul7t ;+:yfsf] pRr Aoa:yfksLo txsf clws[t sd{rf/Lx? ;DaGwL ljj/0f M

s_ ;+ul7t ;+:yfsf] pRr Aoa:yfksLo txsf sd{rf/Lsf] gfd, of]Uotf, lgo'lQm ePsf] ldlt, klxn] sfd u/]sf] cg'ej tyf ;+ul7t ;+:yfsf] z]o/ lnPsf] eP z]o/ ;+Vof ;DaGwL ljj/0f . ;fy} To:tf] sd{rf/Lx? cGo s'g} ;"lrs[t ;+ul7t ;+:yfsf] cfwf/e"t z]o/wgL eP jf cGo s'g} ;+ul7t ;+:yfdf nufgL u/]sf] eP pQm ;+ul7t ;+:yfsf] gfd / nufgL u/]sf] /sd v'nfpg' kg]{ .

qm=;+= sd{rf/Lsf] gfd kb of]Uotf lgo'lQm ldlt -

lj==;=_ sfof{g'ej

z]o/ ;+Vof

! >L pQ/ s'df/ >]i7 k|d'v sfo{sf/L

clws[t PdlaP, Pkml;P

2071/02/01

g]kfn ljB't k|flws/0fdf sfo{sf/L lgb]{zs nufPt ljleGg kbdf /xL @) jif{ eGbf a9Lsf] sfo{ cg'ej / k|jGw lgb]{zs kbaf6 cjsf; k|fKt . @)&! h]i7 b]vL ljlk;Ldf sfo{/t\ .

–

@ >L k|lts dfg l;+x k|wfg

Vice President – Business

Development & Projects

PdP;;L 2067/06/07

@)$^ ;fn b]vL !) jif{ ;Dd lxdfn xfO8«f] P08 hg/n

sG;6«zgdf sfo{/t /xL lrkm OlGhlgo/ kbjf6 cjsf; lnO{

@)%^ ;fn b]vL ^ jif{ ;Dd xfO8«f] Nofj k|f=ln=df dxfk|aGwssf] ?kdf

/ @)^% ;fn b]vL s/Lj b'O{ jif{ ;Dd ENSR Consulting ,

Seattle, USA df l/;r{ OlGhlgo/sf] ?kdf @ jif{sf] sfo{ cg'ej . @)^& cflZjg b]lv xfn ;Dd

ljlk;Ldf sfo{/t .

$%)

# >L /fw]Zofd >]i7 Vice President –

Finance Pdsd, Pkml;P 2067/08/01

g]kfn /fi6« a}+ssf] ljleGg kbdf /xL #) jif{ eGbf a9Lsf] sfo{ cg'ej xfl;n ub}{ lgb]{zs kbaf6 cjsf; k|fKt . @)^& d+l;/ b]lv xfn ;Dd

ljlk;Ldf sfo{/t .

–

$ >L l6sf/fd e6[ Vice President –

Corporate PdPdP;,

PdP 2071/02/01

g]kfnL ;]gfdf ljleGg kbdf /xL #* jif{sf] sfo{ cg'ej xfl;n ub}{

;xfos /yL kbaf6 cjsf; k|fKt . @)&! h]i7 b]lv xfn ;Dd ljlk;Ldf

sfo{/t .

–

% >L k|sfz s'df/ >]i7

Head - Operation

PdP;;L l8Knf]df OPdaLP

2051/04/01 @)%! >fj0f b]vL aLkLl;df ljleGg

kbdf /xL xfn ;Dd sfo{/t . !)$&

;+ul7t ;++:yfsf sd{rf/Lx? cGo ;"rLs[t ;+ul7t ;+:yfsf] cfwf/e"t z]o/wgLsf] ?kdf /x]sf] jf sd{rf/Lx?n] cGo s'g} ;+ul7t ;+:yfdf u/]sf] nufgL ;DaGwL ljj/0f M ;f] gePsf] .

v_ ljj/0fkq af]8{df k|:t't ug{' eGbf ! aif{ cufl8sf] cjlwdf lgod cg';f/ cjsfz k|fKt ePsf] cj:yf afx]s ;+ul7t ;+:yfsf] pRr Joj:yfksLo txdf /x]sf s'g} sd{rf/L kl/jt{g ePdf ;f] ;DaGwL ljj/0f pNn]v ug'{ kg]{ M

;f] gePsf] . u_ sd{rf/L ;+Vof M qm=;+= s'n sd{rf/L ;+Vof :yfoL k/LIf0f sfndf /x]sf c:yfoL÷s/f/ Hofnfbf/L cGo ! 235 211 – 24 –

15

v_ ;+rfns Pj+ pRr JoJ:yfksLo txsf clws[tnfO{ lbPsf] eQf tyf kfl/>lds ;DaGwL ljj/0f M s_ ;+rfns ;ldltsf] cWoIf nufot cGo ;b:ox?nfO{ k|bfg ul/g] jf ul/Psf] j}7s eQfsf] b/ tyf

lghx?nfO{ k|bfg ul/g] jf ul/Psf] b}lgs tyf e|d0f eQf / cGo ;'ljwf M sDkgLsf] lgodfjnLsf] lgod !(, s, v tyf u df ePsf] Joj:yf adf]lhd ;~rfnsx?n] lgDg adf]lhdsf] kfl/>lds tyf ;'ljwfx? k|fKt ug]{5g\ M -s_ b}lgs sfo{;+rfngdf sfo{sf/L k|d'vsf] x}l;otn] k|ToIf ?kdf ;+nUg ;+rfnsn] dfq ;+rfns ;ldltn] lgwf{/0f u/]

adf]lhdsf] dfl;s kfl/>lds kfpg] 5 .

-v_ ;ldltsf] a}7sdf pkl:yt eP jfkt ;+rfns tyf cWoIfn] kfpg] a}7s eQf ?= %,))) x'g]5 . -u_ oftfoft eQf tyf 6]lnkmf]g eQf jfkt ;+rfnssf] ?= %,%)) k|lt dlxgf / cWoIfsf] ?= &,))) k|lt dlxgf x'g]5 .

v_ ;+ul7t ;+:yfsf] pRr Aoa:yfklso txsf tLg hgf clws[tx?sf] gfd / kb / Ps cfly{s aif{sf]

cjlw leq pgLx?nfO{ kfl/>ldssf] ?kdf e'Qmfg ul/Psf] /sd M qm+=;+= gfd kb kfl/>ldssf] /sd -?=_ ->fj0f !, @)&# b]lv cfiff9 #!, @)&$ ;Dd_

! >L pQ/ s'df/ >]i7 k|d'v sfo{sf/L clws[t 48,49,844

@ >L k|lts dfg l;+x k|wfg Vice President – Business Development & Projects

28,66,550

# >L /fw]Zofd >]i7 Vice President – Finance 14,64,298

u_ s'g} clws[t jf ;+rfnsnfO{ eljiosf] nflu s'g} /sd k|bfg ul/g] u/L s/f/ ul/Psf] eP ;f] ;DaGwL ljj/0f M xfn ;Dd To:tf] s'g} s/f/ ul/Psf] 5}g .

*= cGt/lglxt hf]vLd tyf ;f] sf] Joj:yfkgsf] nfuL Joj:yfkgsf] wf/0ff M ;+ul7t ;+:yfn] axg u/]sf] jf ug]{ hf]vLd :ki6 ?kdf pNn]v ug'{kg]{ . o; ;Gbe{df hf]vLdx?nfO{ ;+ul7t ;+:yfsf] cfGtl/s jf Joj;fo÷kl/of]hgf;Fu k|ToIf cyjf ;+ul7t ;+:yfsf] lgoGq0f eGbf aflx/sf] egL jlu{s/0f u/L k|d'v ?kdf b]xfosf] hf]vLdsf] ljZn]if0f ug'{kg]{ .

-s_ ljQLo ;fwgsf] cefjaf6 x'g] hf]lvd M • yk ;fj{hlgs lgisfzgjf6 k|fKt x'g] ?= $)=*! s/f]8 / ;f] z]o/df lk|ldod jfkt k|fKtx'g] /sdx? GofbL hnljB't cfof]hgf / sfj]nL P hnljB't cfof]hgfdf z]o/ nufgLsfnflu pkof]u ul/g] 5 . ;f] pkof]u kZrft\ s'g} /sd afFsL x'g cfPdf sDkgLsf] k"0f{ :jfldTj tyf ;+rfngdf /x]sf] cFflwvf]nf Ifdtf j[l4 cfof]hgf -(=$ d]=jf=_ tyf sDkgLsf] sfof{no ejg lgdf{0f cfof]hgfsfnflu lnOPsf] C0f r'Qmf ug{sfnflu pkof]u ug{ ;lsg] 5 . gofF lgisfzg dfkm{t k|fKt x'g] /sd gk'u ePdf sDkgLsf] cfo>f]tjf6 a]xf]g{ ;lsg]5 . t;y{ ljQLo ;fwgsf] cefjaf6 x'g] hf]lvd gePsf] .

-v_ sRrf kbfy{sf] cefjaf6 x'g] hf]lvd M • hn;|f]tsf] d'xfgsf] jftfj/0fdf ck|Toflzt ?kdf kl/jt{g e} kfgLsf] >f]t 36\g uPdf pTkfbg Ifdtf 36\g ;Sg] .

-u_ pTkfbg jf ;]jfsf] ahf/sf] l:ylt / o;df cfpg] kl/jt{gaf6 x'g] hf]lvd M • g]kfn ljB't k|flws/0f;Fu ljB't v/Lb ug]{ ;Demf}tf e} ;s]sf] x'gfn] o:tf] hf]lvd gx'g] .

-3_ cfof]hgf ;DkGg x'g l9nfO{ x'g] ;Defjgf / To;af6 x'g] d"No clej[l4 (Cost Overrun) sf] hf]lvd M • cfof]hgfsf] ljsf; EPC Model df ul/g] ePsf]n] hf]lvd Go"g ePsf] .

-ª_ ljb]zL ljlgdosf] hf]lvd M • ljb]zL ljlgdo sf/f]jf/ ubf{ ljlgdo b/df x'g] yk36af6 x'g;Sg] hf]lvdx? .

-r_ sfg"gL k|lqmofx? tyf O{hfht k|fKt ug'{kg]{ eP ;f]af6 kg{ ;Sg] cj/f]wx? M • ;f] gePsf] .

-5_ If]qLos/0f / ljZjJofkLs/0f (Globalization) sf sf/0faf6 pTkGg x'g ;Sg] hf]lvd M • cGt/fl{i6«o ahf/df x'g] ljleGg cfly{s 36gf kl/36gfaf6 g]kfnL ahf/df kg{;Sg] c;/af6 x'g;Sg] cfly{s hf]lvdx? .

-h_ ;/sf/L gLlt tyf lgodx?df x'g] kl/jt{g tyf ljZjJofkL ?kdf x'g] gLltut kl/jt{gaf6 pTkGg x'g] hf]lvd M

16

• ;/sf/L gLlt tyf lgodx?df kl.jt{g ePdf ;f] adf]lhd pTkGg x'g;Sg] hf]lvd /x]sf] . -em_ ;~rfng Oltxf;sf] cefj M

• ;f] gePsf] . - _ k|ljlwsf] kl/jt{gaf6 x'g] ;Sg] hf]lvd M

• ;f] gePsf] . -6_ cGo M

• b]zsf] /fhg}lts cl:y/tfaf6 cfpg ;Sg] hf]lvdx? . • k"+hL ahf/sf] cj:yfdf cfpg] ptf/ r9fjaf6 kg{ ;Sg] hf]lvdx? .

pk/f]Qmfg';f/sf] hf]lvdx?nfO{ Go"g jf Joj:yfkg ug]{ ;DaGwdf Joj:yfkgn] lgDg pkfox? cjnDjg ub}{ hfg]5 . • plrt hf]lvd d'NofÍg u/L s'zn hf]lvd Joj:yfkg ug]{ . • hn>f]t If]qdf bL3{sfnLg ;d:of x'g] b]lvPdf kLkLP k'g/fjnf]sg u/L cfly{s hf]lvd Go"gLs/0f ug{ k|of; ug]{ . • Forward Contract tyf Hedging sf] dfWodaf6 ljb]zL ljlgdo sf/f]jf/sf] hf]lvd Joj:yfkg ul/g]] . • ;+:yfut ;'zf;g ;DaGwL cjwf/0ffx?nfO{ Kffngf ub}{ cfO{/x]sf] / k/]sf r'gf}tLx?nfO{ Joj:yfkg ub}{ cuf8L a9\g] . • pk/f]Qm lgdf{0flwg kl/of]hgfx?sf hf]lvd Go"lgs/0f ug{ cfjZos jLdf ul/Psf 5g .

sfj]nL hnljB't kl/of]hgfsf Civil & Hydromechanical and Electromechanical Works sf] hf]lvdnfO{ Go'lgs/0f ug{ lxdfnog hg/n O{G:of]/]G; sDkgL lnld6]8;+u ?= (,$#,$*,*),)))÷– /sd a/fa/sf] jLdf ul/Psf] 5 . \ GofbL hnljB't kl/of]hgfsf] ;Dk"0f{ hf]lvd Go'lgs/0f (Contractors’ All Risk Policy) nflu ?= #,&$,(#,% ,!@%÷* a/fa/sf] tyf Contractor’s Plant and Machinery sf] hf]lvd Go'lgs/0f ug{sf] nflu ?= #,!#,)),)))÷– a/fa/sf] jLdf PgPnhL OG:of]/]G; sDkgL lnld6]8af6 ul/Psf] 5 .

rfn' kl/of]hgfx? ÷;DklQ jLdf /sd ?= s/f]8df jLdf sDkgL lemd?s hnljB't s]Gb| M kfj/ KnfG6 ? !@$ s/f]8 Loss of Profit ?= #! s/f]8

!%%

;Dk"0f{ ;DklQx?sf] aLdf lxdfnog hg/n OG;'/]G; sDkgL lnld6]8, ja/dxn,

sf7df08f}af6 u/]sf] .

cf+lwvf]nf hnljB't s]Gb M kfj/ KnfG6 ? !) s/f]8 Loss of Profit ?= @% s/f]8

!#!

ejg tyf cGo ;DklQ M ejg tyf df}Hbftx? Psd'i6 ?= %$ s/f]8 t]>f] kIf jLdf lemd?s / cf+lwvf]nf hnljB't s]Gbx?df Psd'i6 ?= !=%) s/f]8 Nofk6kx? ?= !=%) s/f]8 sfof{no ;fdu|L tyf kmlg{r/x? Psd'i6 ?= % s/f]8 ;jf/L ;fwgx? Psd'i6 ?=% s/f]8 gub -eN6_÷6«fGhL6÷lkm8]ln6L÷rf]/L ?= ! s/f]8

^*

lwtf]kqsf]] d"No kl/jt{g ;DaGwL hf]lvd M ?= !))÷– k|lt z]o/sf b/n] lgisfzgdf lk|ldod ?= $)!÷– yk u/L k|lt z]o/ ?= %)!÷– sfod ul/Psf] z]o/ d"Non] ;"rLs/0f kZrft\ g]kfn :6s PS;r]Gh lnld6]8df x'g] sf/f]jf/ d"No ghgfpg] ePsf]n] z]o/ d"Nodf x'g ;Sg] kl/jt{gsf] hf]lvd /x]sf] 5 . (= ljQLo ljj/0f M s_ ljQLo ljj/0f / tt\;DaGwdf Joj:yfkgsf] wf/0ff / ljZn]if0f M

s_ ;+ul7t ;+:yfsf] n]vfkl/If0f ePsf] kl5Nnf] cfly{s jif{sf] jf;nft, gfkmf gf]S;fg lx;fa, gfkmf gf]S;fg lx;fj afF8kmfF8, gub k|jfx ljj/0f M sDkgLsf] cf=j= @)&@÷&# sf] jf;nft, gfkmf–gf]S;fg lx;fa, gfkmf–gf]S;fg afF8kmfF8 lx;fa tyf gub k|jfxsf] ljj/0f lgDgfg';f/ 5M–

jf;nft -cfiff9 #!, @)&#_ ljj/0f ?= xhf/df

17

s_ k"FhLsf] ;|f]t != z]o/wgL sf]if z]o/ kF"hL 1,673,223 hu]8f tyf sf]ifx? 1,970,982 hDdf z]o/wgLsf] sf]if 3,644,204 u}/ rfn' bfloTj u|fG6 P8 Og l/he{ (Grant Aid in Reserve) 196,679 lb3{sflng C0f 595,126 :yug s/ bfloTj 34,807 hDdf u}/ rfn' bfloTj 826,611 cNksflng a}+s shf{ 231,591 ;fx' tyf e'QmfgL ug'{ kg]{ /sd 258,625 k]ZsL tyf w/f}6L k|fKt 29,995 Joj:yfx? 9,955 hDdf rfn' bfloTj 530,165 hDdf 5,000,981 ;DklQ hDdf rfn' ;DklQ Property, Plant & Equipment

s'n l:y/ ;DklQ 3,759,272 Go"gM x|f; s§L 1,106,117 v'b l:y/ ;DklQ 2,653,155 kF"hLut sfo{ k|ult 205,803 laqmLsf] nflu /flvPsf] ;DklQ - z]o/df nufgL 1,446,025 hDdf u}/ rfn' ;DklQ 4,304,983 Current Assets:

df}Hbft 93,248 cf;fdL tyf k|fKo /sd 314,509 gub tyf a}+s df]Hbft 65,734 k]ZsL / clu|d e'QmfgL 222,506 Intra Branch Account - hDdf rfn' ;DklQ 695,998 :yug cfDbfgL vr{ - hDdf 5,000,981

gfkmf gf]S;fg lx;fj ->fj0f !, @)&@ b]lv cfiff9 #!, @)&#_ ljj/0f ?= xhf/df

;+rfng cfDbfgL ljB't laqmL 607,224 ljB't ;]jfx? 9,956 Management Support Services - hDdf ;+rfng cfDbfgL 617,180 ;+rfng vr{

18

pTkfbg vr{ 199,070 ljt/0f vr{ 86,264 Management Support Expenses - Project Development Expenses - hDdf ;+rfng vr{x? 285,334 s"n ;+rfng gfkmf 331,846 k|zf;lgs / cGo vr{ k|zf;lgs vr{ 95,843 x|f; s§L 141,852 ;+efljt nufgLsf] cfo÷gf]S;fg Joj:yf 725 Aofh vr{ 79,290 hDdf k|zf;lgs tyf cGo vr{ 317,709 cGo ;|f]taf6 cfDbfgL Jofh cfDbfgL 21,820 cGo cfDbfgL 15,554 ;DklQ tyf df}Hbft j:t' laqmL gfkmf÷gf]S;fg 3,013 cg'bfg ;xof]usf] cfDbfgL c+zsf] x|f;s§L 12,143 nfef+z cfDbfgL 531,768 ljb]zL d'b| ljlgdo nfe÷gf]S;fg 198 hDdf cGo ;|f]taf6 cfDbfgL 584,495 af]g; tyf cfos/ cl3sf] d'gfkmf 598,632 sd{rf/L af]g; 11,738 ;+:yfet cfos/ Joj:yf - :yug s/ cfDbfgL ÷-vr{_ 10,948 afF8kmfF8 cl3sf] d'gfkmf÷gf]S;fg 575,946

gfkmf gf]S;fg afF8kmfF8 lx;fj->fj0f !, @)&@ b]lv cfiff9 #!, @)&#_ ljj/0f ?= xhf/df

ut jif{sf] afFsL 1,120,283 o; jif{sf] gfkmf 575,946 hDdf 1,696,228 af]g; z]o/ hf/L - Go'gM nfef+z (334,645) hDdf nfef+z (334,645) ljut jif{sf] s/ tyf cGo ;dfof]hg (12,798) af;nftdf ;f/]sf] ;+lrt d'gfkmf 1,348,786

gub k|jfxsf] ljj/0f -cfiff9 #!, @)&#_ ljj/0f ?= -xhf/df_

(s) sf/f]jf/ ;~rfngaf6 gub k|jfx af]]gz / s/ eGbf cuf8Lsf] gfkmf(3f6f) 598,632 ;dfof]hg : ;fwf/0f x|;s§L 129,709

hu]8f sf]ifsf] cg'bfgdf x|;s§L 12,143

19

ljb]zL ljlgod sf/f]af/af6 gfkmf(3f6f) (198)

Aofh vr{ 79,290

Aofh cfDbfgL (21,820)

nfef+z cfDbfgL (531,768)

nufgL sf/f]jf/df gfkmf 3f6f Joj:yf vr{sf] Joj:yf 606

Gain/loss on disposal Of stock (3,013)

Deffered Revenue Expenses

af]gz z]o/ hf/L ;DklQdf xf|;s§L 415 sfo{ut k"FhL ultljlw cl3sf] gub k|jfx 263,996 e'QmfgL kfpg'kg]{ lanx?df sdL÷-j[l4_ (8,566)

df}Hbftdf sdL÷-j[l4_ (22,102)

clu|d e'QmfgLdf sdL÷-j[l4_ (7,944)

e'QmfgL lbg'kg]{ lanx?df sdL÷-j[l4_ (97,868)

clud e'QmfgLdf sdL÷-j[l4_ (2,500)

;~rfngaf6 k|fKt /sd 125,016

Aofh ljt/0f (79,290)

ljb]zL ljlgod sf/f]af/af6 gfkmf(3f6f) 198

af]gz ljt/0f (10,764)

s/ lt/]sf] (9,183)

ut jif{sf] ;dfof]hg (12,798)

v'b sf/f]jf/ ;~rfngaf6 gub k|jfx(s) 13,179 -v_ nufgL sf/f]jf/df gub k|jfx (9,651,986) l:y/ ;DklQdf sdL÷-j[l4_ (74,453)

;DklQsf] laqmLdf 3,170

bL3{sflng nufgLdf sdL÷-j[l4_ (102,925)

Work in Progress df sdL÷-j[l4_ (26,437)

Jofh cfDbfgL 21,820

nfef+z cfDbfgL 531,768

v'b nufgL sf/f]jf/df gub k|jfx(v) 352,942 -u_ ljQLo ;|f]t sf/f]af/af6 gub k|jfx z]o/ k"FhLdf -sdL_÷j[l4 Share Premium sdL_÷j[l4

20

hu]8f sf]ifdf cgbfgdf -sdL_÷j[l4 (3,837)

bL3{sflng C0f -a08, l8j]Gr/ cflb_ -sdL_÷j[l4 (170,362)

5f]6f] ;dosf] C0f sdL_÷j[l4 109,418

nfef+z ljt/0f (321,373)

v'b ljQLo ;|f]t sf/f]af/af6 gub k|jfx(u) (386,155) -ª_ o; jif{sf] ;Dk"0f{ ultljlwaf6 gub k|jfx -s±v±u_ (20,034) -r_ gub tyf a}+sdf /x]sf] z'? df}Hbft 85,767 -5_ gub tyf a}+sdf /x]sf] clGtd df}Hbft -ª±r_ 65,734

v_ ;~rfng cjlw tLg jif{ AotLt e};s]sf] cj:yfdf ljut tLg jif{sf] / tLg jif{ JotLt e}g;s]sf]

cj:yfdf ;~rfng cjlwe/sf] n]vfk/LIf0f ePsf] gfkmf gf]S;fg, jf;nft ;lxtsf] ;+lIfKt ljQLo ljj/0f M

sDkgLsf] cf=a= @) *÷ (, @) (÷&), @)&)÷&!, @)&!÷&@, / @)&@÷&# sf] n]vfk/LIf0f ePsf] jf;nft / gfkmf gf]S;fgsf] ljQLo ljj/0f b]xfo adf]lhd /x]sf] 5 .

jf;nft

ljj/0f jf:tljs -?= xhf/df_

068/069 069/070 070/071 071/072 072/073 s_ k"FhLsf] ;|f]t != z]o/wgL sf]if z]o/ kF"hL 1,015,269 1,015,269 1,673,223 1,673,223 1,673,223

hu]8f tyf sf]ifx? 1,694,909 1,501,022 1,586,275 1,755,325 1,970,982

hDdf z]o/wgLsf] sf]if 2,710,178 2,516,291 3,259,498 3,428,547 3,644,204

u}/ rfn' bfloTj u|fG6 P8 Pg l/h{e (Grant Aid in Reserve) 213,227 207,830 199,573 200,516 196,679

lb3{sflng C0f 531,799 838,453 873,510 765,488 595,126

:yug s/ bfloTj 13,442 26,163 7,963 23,859 34,807

hDdf u}/ rfn' bfloTj 758,468 1,072,445 1,081,045 989,862 826,611

cNksflng a}+s shf{ 245,022 397,472 126,306 122,172 231,591

;fx' tyf e'QmfgL ug'{ kg]{ /sd 193,808 277,761 364,247 342,248 258,625

k]ZsL tyf w/f}6L k|fKt 5,368 3,114 2,535 32,495 29,995

Joj:yfx? 66,250 39,313 25,412 15,081 9,955

hDdf rfn' bfloTj 510,447 717,660 518,500 511,996 530,165

hDdf 3,979,094 4,306,396 4,859,043 4,930,406 5,000,981

;DklQ hDdf rfn' ;DklQ Property, Plant & Equipment s'n l:y/ ;DklQ 2,292,891 2,298,153 2,311,680 3,700,314 3,759,272

Go"gM x|f; s§L 749,504 790,431 879,220 966,499 1,106,117

v'b l:y/ ;DklQ 1,543,387 1,507,722 1,432,460 2,733,815 2,653,155

kF"hLut sfo{ k|ult 407,388 860,113 1,316,475 179,366 205,803

laqmLsf] nflu /flvPsf] ;DklQ - 3,170 3,170 3,170 -

z]o/df nufgL 998,766 1,082,501 1,222,091 1,343,100 1,446,025

hDdf u}/ rfn' ';DklQ 2,949,541 3,453,506 3,974,195 4,259,451 4,304,983

21

Current Assets: df}Hbft 42,857 35,956 56,912 68,133 93,248

cf;fdL tyf k|fKo /sd 283,626 276,275 335,948 305,943 314,509

gub tyf a}+s df]Hbft 322,797 252,087 202,039 85,767 65,734

k]ZsL / clu|d e'QmfgL 374,569 288,572 289,950 211,111 222,506 Intra Branch Account - - - - - hDdf rfn' ;DklQ 1,023,848 852,890 884,848 670,955 695,998

:yug cfDbfgL vr{ 5,704 - - - -

hDdf 3,979,094 4,306,396 4,859,043 4,930,406 5,000,981

gfkmf gf]S;fg lx;fj


068/069 069/070 070/071 071/072 072/073 ;+rfng cfDbfgL ljB't laqmL 518,433 503,558 397,808 516,945 607,224 ljB't ;]jfx? 5,584 8,549 6,299 6,247 9,956 Management Support Services 81,133 - - - - hDdf ;+rfng cfDbfgL 605,149 512,107 404,107 523,192 617,180 ;+rfng vr{ pTkfbg vr{ 163,387 242,826 261,785 248,777 199,070 ljt/0f vr{ 59,167 68,333 62,807 69,768 86,264 Management Support Expenses 7,738 - - - - Project Development Expenses 15,856 - - - - hDdf ;+rfng vr{x? 246,147 311,159 324,591 318,545 285,334 s"n ;+rfng gfkmf 359,002 200,948 79,516 204,646 331,846 k|zf;lgs / cGo vr{ k|zf;lgs vr{ 84,688 115,469 108,300 93,252 95,843 x|f; s§L 67,835 70,690 90,042 103,592 141,852 ;+efljt nufgLsf] cfo÷gf]S;fg Joj:yf 48,292 (7,307) (4,969) (17,364) 725 Aofh vr{ 35,789 48,461 50,413 41,234 79,290 hDdf k|zf;lgs tyf cGo vr{ 236,603 227,314 243,786 220,714 317,709 cGo ;|f]taf6 cfDbfgL Jofh cfDbfgL 32,786 28,522 35,134 37,768 21,820 cGo cfDbfgL 2,296 7,204 11,814 40,426 15,554 ;DklQ tyf df}Hbft j:t' laqmL gfkmf÷gf]S;fg

147 1,254 2,277 (624) 3,013

cg'bfg ;xof]usf] cfDbfgL c+zsf] x|f;s§L

10,772 11,188 11,506 11,640 12,143

nfef+z cfDbfgL 374,957 241,408 393,615 433,103 531,768 ljb]zL d'b| ljlgdo nfe÷gf]S;fg 8,770 6,586 1,204 244 198 hDdf cGo ;|f]taf6 cfDbfgL 429,728 296,162 455,550 522,556 584,495 af]g; tyf cfos/ cl3sf] d'gfkmf 552,127 269,797 291,280 506,488 598,632 sd{rf/L af]g; 11,400 5,290 5,711 10,764 11,738 ;+:yfet cfos/ Joj:yf 43,781 7,902 - - - :yug s/ cfDbfgL ÷-vr{_ 13,442 12,721 (18,199) 15,895 10,948

22

afF8kmfF8 cl3sf] d'gfkmf÷gf]S;fg 483,503 243,884 303,768 479,828 575,946 gfkmf gf]S;fg afF8kmfF8 lx;fj


068/069 069/070 070/071 071/072 072/073 ut jif{sf] afFsL 621,051 853,602 843,145 937,934 1,120,283

o; jif{sf] gfkmf 483,503 243,884 303,768 479,828 575,946

hDdf 1,104,554 1,097,486 1,146,913 1,417,763 1,696,228

Go'gM nfef+z (253,817) (253,817) (182,748) (250,983) (334,645)

hDdf nfef+z (253,817) (253,817) (182,748) (250,983) (334,645)

ljut jif{sf] s/ tyf cGo ;dfof]hg 2,866 (524) (26,231) (46,497) (12,798)

af;nftdf ;f/]sf] ;+lrt d'gfkmf 853,602 843,145 937,934 1,120,283 1,348,786

u_ cfly{s jif{ ;dfKt ePsf] dlxgf kZrft ljj/0fkq :jLs[ltsf] nflu k]z u/]df pQm cGtl/d cjlwsf] nflu n]vfk/LIfsaf6 k|dfl0ft u/]sf] ckl/is[t ljQLo ljj/0f M

sDkgLsf] cf=j= @)&#÷&$ sf] n]vfkl/Ifsaf6 k|dfl0ft u/]sf] ckl/is[t ljQLo ljj/0f b]xfo adf]lhd /x]sf] 5 . jf;nft

ljj/0f -?= xhf/df_

s_ k"FhLsf] ;|f]t != z]o/wgL sf]if z]o/ kF"hL 1,810,572

hu]8f tyf sf]ifx? 2,305,421

hDdf z]o/wgLsf] sf]if 4,115,993

u}/ rfn' bfloTj u|fG6 P8 Pg l/h{e (Grant Aid in Reserve) 184,536

lb3{sflng C0f 454,651

:yug s/ bfloTj 34,807

hDdf u}/ rfn' bfloTj 673,994

cNksflng a}+s shf{ 12,531

;fx' tyf e'QmfgL ug'{ kg]{ /sd 272,492

k]ZsL tyf w/f}6L k|fKt 29,614

Joj:yfx? 44,402

hDdf rfn' bfloTj 359.039

hDdf 5,149,026

;DklQ hDdf rfn' ;DklQ Property, Plant & Equipment s'n l:y/ ;DklQ 3,770,174

Go"gM x|f; s§L 1,246,338

v'b l:y/ ;DklQ 2,523,836

kF"hLut sfo{ k|ult 264,298

laqmLsf] nflu /flvPsf] ;DklQ -

z]o/df nufgL 1,741,303

hDdf u}/ rfn' ';DklQ 4,529,437

Current Assets: df}Hbft 94,436

cf;fdL tyf k|fKo /sd 178,356

23

gub tyf a}+s df]Hbft 66,088

k]ZsL / clu|d e'QmfgL 265,517

Intra Branch Account 15,191

hDdf rfn' ;DklQ 619,589

:yug cfDbfgL vr{ -

hDdf 5,149,026

gfkmf gf]S;fg lx;fj ljj/0f -?= xhf/df_

;+rfng cfDbfgL ljB't laqmL 672,018

ljB't ;]jfx? 10,149

Management Support Services -

hDdf ;+rfng cfDbfgL 682,167

;+rfng vr{ pTkfbg vr{ 214,943

ljt/0f vr{ 96,287

Management Support Expenses -

Project Development Expenses -

hDdf ;+rfng vr{x? 311,230

s"n ;+rfng gfkmf 370,937

k|zf;lgs / cGo vr{ k|zf;lgs vr{ 105,677

x|f; s§L 141,897

;+efljt nufgLsf] cfo÷gf]S;fg Joj:yf (1,073)

Aofh vr{ 62,914

hDdf k|zf;lgs tyf cGo vr{ 309,414

cGo ;|f]taf6 cfDbfgL Jofh cfDbfgL 8,964

cGo cfDbfgL 25,695

;DklQ tyf df}Hbft j:t' laqmL gfkmf÷gf]S;fg 2,647

cg'bfg ;xof]usf] cfDbfgL c+zsf] x|f;s§L 12,143

nfef+z cfDbfgL 551,029

ljb]zL d'b| ljlgdo nfe÷gf]S;fg 314

hDdf cGo ;|f]taf6 cfDbfgL 600,792

af]g; tyf cfos/ cl3sf] d'gfkmf 662,315

sd{rf/L af]g; 12,987

;+:yfet cfos/ Joj:yf -

:yug s/ cfDbfgL ÷-vr{_ -

afF8kmfF8 cl3sf] d'gfkmf÷gf]S;fg 649,328

gfkmf gf]S;fg afF8kmfF8 lx;fj

24

ljj/0f -?= xhf/df_

ut jif{sf] afFsL 1,348,786

o; jif{sf] gfkmf 649,328

hDdf 1,998,114

af]g; z]o/ hf/L (118,456)

Go'gM nfef+z (338,415)

hDdf nfef+z (456,871)

ljut jif{sf] s/ tyf cGo ;dfof]hg (48)

af;nftdf ;f/]sf] ;+lrt d'gfkmf 1,541,194

-3_ cfDbfgL / vr{ lx;fjsf] s'g} zLif{sdf 7"nf] dfqfdf kl/jt{g ePdf To;sf] ljZn]if0ffTds sf/0f M ;f] gePsf] .

-ª_ kl5Nnf] ljQLo ljj/0fsf] n]vfk/LIf0f eP kZrft ;+ul7t ;+:yfsf] sf/f]af/, gfkmf gf]S;fg, ;DklQsf] d"No jf cfufdL !@ dlxgfsf] bfloTj e'QmfgLdf c;/ kg]{ u/L s'g} cj:yf l;h{gf ePsf] 5÷5}g ;f] ;DaGwdf ;~rfnsx?sf] wf/0ff M ;f] gePsf] .

-r_ cfly{s jif{ ;dfKt ePkl5 ljj/0fkq k]z u/]df, ljj/0fkq k]z u/]sf] ldltaf6 :jLs[lt x'g] ldlt;Dddf jf;nftsf] ldlt kl5sf] 36gfsf] jf/]df 5'§} hfgsf/L M ;f] gePsf] .

-5_ ljut % jif{df ;DklQsf] k'gd"{Nof+sg ul/Psf] 5÷5}g, olb ul/Psf] eP -c_ ;DklQsf] ljj/0f, -cf_ ;DklQsf] k"gd"{Nof+sg cl3 / kl5sf] lstfjL d"No, -O{_ k"gd"{Nof+sgsf] cf}lrTo M ;f] gePsf] .

-h_ cfufdL tLg jif{sf] k|If]lkt jf;nft, gfkmf gf]S;fg lx;fasf ;fy} To;sf u0fgfsf] cfwf/x? M sDkgLsf] cfufdL # cfly{s jif{sf] nflu k|If]lkt ljQLo l:ylt b]xfo adf]lhd /x]sf] 5 M

jf;nft

ljj/0f k|If]lkt -?= xhf/df_** 074/075 075/076 076/077

s_ k"FhLsf] ;|f]t

!= z]o/wgL sf]if

z]o/ kF"hL 2,218,672 2,218,672 2,440,539 hu]8f tyf sf]ifx? 4,254,312 4,480,741 4,696,154 hDdf z]o/wgLsf] sf]if 6,472,984 6,699,413 7,136,693 u}/ rfn' bfloTj

u|fG6 P8 Pg l/he{(Grant Aid in Reserve) 189,240 183,367 175,983 lb3{sflng C0f - - - :yug s/ bfloTj 34,807 34,807 34,807 hDdf u}/ rfn' bfloTj 224,047 218,174 210790

cNksflng a}+s shf{ - -

-

;fx' tyf e'QmfgL ug'{ kg]{ /sd 243,384 238,014 247,071 k]ZsL tyf w/f}6L k|fKt 28,439 27,266 26,092 Joj:yfx? 45,734 91,626 90,107 hDdf rfn' bfloTj 317,557 356,906 363,271 hDdf 7,014,588 7,274,493 7,710,754 ;DklQ

25

hDdf rfn' ;DklQ Property, Plant & Equipment

s'n l:y/ ;DklQ 3,766,675 3,758,915 3,756,866 Go"gM x|f; s§L 1,385,974 1,517,462 1,641,567 v'b l:y/ ;DklQ 2,380,701 2,241,453 2,115,299

kF"hLut sfo{ k|ult - - -

laqmLsf] nflu /flvPsf] ;DklQ - - - z]o/df nufgL 2,292,933 2,941,833 3,640,873 hDdf u}/ rfn' ';DklQ 4,673,634 5,183,286 5,756,172 Current Assets: df}Hbft 95,381 96,334 97,298 cf;fdL tyf k|fKo /sd 91,371 91,632 91,897 gub tyf a}+s df]Hbft 1,953,641 1,697,104 1,553,464 k]ZsL / clu|d e'QmfgL 200,561 206,136 211,924 Intra Branch Account - - hDdf rfn' ;DklQ 2,340,954 2,091,206 1,954,583 :yug cfDbfgL vr{ - - - hDdf 7,014,588 7,274,493 7,710,754

gfkmf gf]S;fg lx;fj

ljj/0f k|If]lkt -?= xhf/df_**

074/075 075/076 076/077 ;+rfng cfDbfgL

ljB't laqmL 666,137 667,969 669,819 ljB't ;]jfx? 12,160 12,160 12,160 Management Support Services - - hDdf ;+rfng cfDbfgL 678,297 680,129 681,979 ;+rfng vr{

pTkfbg vr{ 214,711 213,042 217,890 ljt/0f vr{ 109,374 110,523 112,384 Management Support Expenses - - - Project Development Expenses - - - hDdf ;+rfng vr{x? 324,085 323,565 330,274 s"n ;+rfng gfkmf 354,212 356,564 351,704 k|zf;lgs / cGo vr{

k|zf;lgs vr{ 114,577 116,230 121,174 x|f; s§L 139,636 131,489 124,105 ;+efljt nufgLsf] cfo÷gf]S;fg Joj:yf 1,383 1,522 1,674 Aofh vr{ 50,746 - - hDdf k|zf;lgs tyf cGo vr{ 306,342 249,241 246,953 cGo ;|f]taf6 cfDbfgL

Jofh cfDbfgL 123,040 104,104 93,143 cGo cfDbfgL 12,849 13,406 14,074 ;DklQ tyf df}Hbft j:t' laqmL gfkmf÷gf]S;fg 2,065 1,611 - cg'bfg ;xof]usf] cfDbfgL c+zsf] x|f;s§L 11,014 10,672 10,242

26

nfef+z cfDbfgL 509,843 509,843 509,843 ljb]zL d'b| ljlgdo nfe÷gf]S;fg 204 133 86 hDdf cGo ;|f]taf6 cfDbfgL 659,015 639,768 627,388 af]g; tyf cfos/ cl3sf] d'gfkmf 706,844 747,092 732,140 sd{rf/L af]g; 13,860 14,649 14,356 ;+:yfet cfos/ Joj:yf - 44,520 41,588 :yug s/ cfDbfgL ÷-vr{_ - - afF8kmfF8 cl3sf] d'gfkmf÷gf]S;fg 693,024 687,923 676,196

gfkmf gf]S;fg afF8kmfF8 lx;fj vftf

ljj/0f k|If]lkt -?= xhf/df_**

074/075 075/076 076/077 ut jif{sf] afFsL 1,541,194 1,872,104 2,116,293 o; jif{sf] gfkmf 693,024 687,923 676,192 hDdf 2,234,218 2,560,027 2,792,488 af]g; z]o/ hf/L - - (221,867) Go'gM nfef+z (362,114) (443,734) (221,867) hDdf nfef+z (362,114) (443,734) (443,734) ljut jif{sf] s/ tyf cGo ;dfof]hg - - - af;nftdf ;f/]sf] ;+lrt d'gfkmf 1,872,104 2,116,292 2,348,754

** k|If]lkt ljQLo ljj/0f sDkgL cfkm}n] tof/ kf/]sf] xf] / ;f] ljQLo ljj/0fx? la=cf/=P;\ g]pkfg] P08 sDkgLsf Pkml;P >L 1fg]Gb| axfb'/ ef/L åf/f k|dfl0ft ul/Psf] 5 .

sDkgLsf] ljQLo k|If]k0fsf cfwf/ tyf tl/sfx? M

ljj/0f k|If]lkt(%)

074/075 075/076 076/077 z]]o/ k"FhLdf cg'dflgt j[l4b/ 22.54% 0.00% 10.00% u|fG6 P8 Pg l/h{edf cg'dflgt j[l4b/ 2.55% -3.10% -4.03% C0fdfcg'dflgt j[l4b/ 0% 0% 0% nufgLdf cg'dflgt j[l4b/ 31.68% 28.30% 23.76% ljB't laqmLdf cg'dflgt j[l4b/ -0.88% 0.27% 0.28% nfef+z cfDbfgLdf cg'dflgt j[l4b/ -7.47% 0.00% 0.00% pTkfbg vr{df cg'dflgt j[l4b/ -0.11% -0.78% 2.28% ljt/0f vr{df cg'dflgt j[l4b/ 13.59% 1.05% 1.68% Jofh cfDbfgLdf cg'dflgt j[l4b/ 1,273.56% -15.39% -10.53% Jofh vr{df cg'dflgt j[l4b/ -19.34% -100.00% 0% cGo cfDbfgLdf j[l4b/ -49.99% 4.34% 5.98%

!= z]]o/ k"FhLdfM @)&$÷&% df yk ;fj{hlgs lgisfzgaf6 ?= $),*!,)),)))÷– j[l4, @)&^÷&& df !)

k|ltzt af]gz z]o/ hf/L @= u|fG6 P8 Pg l/h{edfM @)&$÷&% Marginal Increase, @)&%÷&^ tyf @)&^÷&& Non-extension of

distribution activities sf sf/0f 36L #= nufgLdfM @)&$÷&%, @)&%÷&^ tyf @)&^÷&& a'6jn kfj/ sDkgLåf/f lgdf{0f ul/Psf] cfof]hgfsf]

nufgLdf j[l4

27

$= ljB't laqmLdfM @)&$÷&% Marginal decrease, @)&%÷&^ tyf @)&^÷&& Marginal Increase %=nfef+z cfDbfgLdfM @)&$÷&%, @)&%÷&^ tyf @)&^÷&& M Investee Companies sf] nufgL of]hgfsf] cfwf/df

^= pTkfbg vr{dfM @)&$÷&% tyf @)&%÷&^ Marginal decrease, @)&^÷&& Marginal Increase &= Jofh vr{dfM @)&$÷&% C0f /sddf 36L, @)&%÷&^ ;Dk"0f{ C0f /sd r'Qmf v_ ljQLo cg'kft ;DaGwL ljj/0fM

s_ ;+ul7t ;+:yfsf] ;~rfngcjlw tLg jif{ JotLt e};s]sf] cj:yfdf ljut tLg jif{sf] / tLg jif{ JotLt e}g;s]sf] cj:yfdf ;~rfng cjlwsf] tyf cfufdL tLg jif{sf] k|If]lkt k|lt z]o/ cfDbfgL (EPS) k|lt z]o/ g]6jy{ tyf g]6jy{df cf};t k|ltkmn lgDgfg';f/ 5 .

sDkgLsf] g]6jy{df ePsf] jf:tljs tyf k|If]lkt cf};t k|ltkmn b]xfo adf]lhd 5 M

ljj/0f jf:tljs -?= xhf/df_ 073/074

ckl/is[t -?= xhf/df_

k|If]lkt -?= xhf/df_** 068/069 069/070 070/071 071/072 072/073 074/075 075/076 076÷077

r'Qmf k"FhL 1,015,269 1,015,269 1,673,223 1,673,223 1,673,223 1,810,572 2,218,672 2,218,672 2,440,539 hu]8f tyf sf]ifx? 1,694,909 1,501,022 1,586,275 1,755,325 1,970,982 2305421 4,254,312 4,480,741 4,696,154 s'n 2,710,178 2,516,291 3,259,498 3,428,547 3,644,204 4115,993 6,472,984 6,699,413 7,136,693 36fpg] :yug vr{ 5,704.25 - - - - - - - - s'n g]6jf]y{ 2,704,474 2,516,291 3,259,498 3,428,547 3,644,204 4115,993 6,472,984 6,699,413 7,136,693 z]o/ ;+Vof -…))) df_ 10,153 10,153 16,732 16,732 16,732 18,106 22,187 22,187 24,405 k|lt z]o/ g]6jy{ -?=_ 266.38 247.84 194.80 204.91 217.80 227.33 291.74 301.95 292.43 k|lt z]o/ r'Qmf k"FhL -?=_ 100 100 100 100 100 100 100 100 100

g]6jy{df k|ltkmn -%_ 17.88 9.69 9.32 14.00 15.80 15.78 10.71 10.27 9.47

k|lt z]o/ cfDbfgL 47.62 24.02 18.15 28.68 34.42 35.86 31.24 31.01 27.71 ** k|If]lkt ljQLo ljj/0f sDkgL cfkm}n] tof/ kf/]sf] xf] / ;f] ljQLo ljj/0fx? la=cf/=P; Gof}kfg] P08 sDkgLsf Pkml;P >L 1fg]Gb| axfx'/ ef/L åf/f k|dfl0ft ul/Psf] 5 .

lgisfzg k"j{sf] k|lt z]o/ cfDbfgL (EPS) sfod /fVg j[l4 x'g] g]6jy{df cfjZos Go"gtd k|ltkmn (Minimum return on increased networth required to maintain pre issue EPS) M 18.23%

-v_ ljut # jif{sf] g]6jy{df ePsf] cf}ift k|ltkmn M 13.04%

!)= lwtf]kq lgisfzg ;DaGwL ljj/0f M s_ lwtf]kq hf/L ug'{sf] p2]Zo M

sDkgLsf] k|aGwkq tyf lgodfjnLdf pNn]v ePsf p2]Zox? cg'?k ug'{kg]{ sfo{x?sf] nflu cfjZos k"FhL ;+sng ug{ .

v_ lwtf]kq lgisfzgaf6 k|fKt k"FhLsf] pkof]u M

s_ lgisfzgaf6 k|fKt x'g] s"n /sdnfO{ s;/L / s'g If]qdf k|of]u ul/g] 5 tT;DaGwL ljj/0f M yk ;fj{hlgs lgisfzgjf6 k|fKt x'g] z]o/ k"FhL ?= $)=*! s/f]8 / ;f] z]o/df lk|ldod jfkt k|fKt

x'g] /sdx? GofbL hnljB't cfof]hgf / sfj]nL P hnljB't cfof]hgfdf z]o/ nufgLsfnflu pkof]u ul/g] 5 . ;f] pkof]u kZrft\ s'g} /sd afFsL x'g cfPdf sDkgLsf] k"0f{ :jfldTj tyf ;+rfngdf /x]sf] cFflwvf]nf Ifdtf j[l4 cfof]hgf -(=$ d]=jf=_ tyf sDkgLsf] sfof{no ejg lgdf{0f cfof]hgfsf nflu lnOPsf] C0f r'Qmf ug{sfnflu pkof]u ug{ ;lsg] 5 . yk ;fj{hlgs lgisfzg dfkm{t k|fKt x'g] /sd gk'u ePdf sDkgLsf] cfo>f]taf6 a]xf]g{ ;lsg]5 . o; sDkgLaf6 k|jl4{t kl/of]hgfx?sf] yk ljj/0f lgDgfg';f/ /x]sf] 5 .

28

lgisfzgaf6 k|fKt x'g] s'n /sd tn pNn]lvt ljleGg If]qx?df k|of]u x'g]5 M

qm=;+= ljj/0f /sd ! GofbL hnljB't cfof]hgfsf] z]o/df nufgL !,!&^,))),))) @ sfj]nL P hnljB't cfof]hgfsf] z]o/df nufgL ^(^,))),))) # cflwvf]nf cfof]hgfsf] C0f e'QmfgLdf !&@,%*!,)))

hDdf @,)$$,%*!,))) GofbL tyf sfj]nL P hnljB't cfof]hgfx?sf cGo ljj/0fx? dfyL bkmf #s-ª_ df pNn]v ul/Psf] 5 .

lwtf]kq btf{ tyf lgisfzg lgodfjnL, @)&# sf] bkmf ( sf] pkbkmf # adf]lhdsf] zt{x? kfngf ;DaGwL ljj/0f . GofbL xfO8«f]kfj/ lnld6]8

s_ cfˆgf] p2]Zo cg';f/ sf/f]af/ ;~rfng ug{sf nflu cfjZos sfo{x? cufl8 a9fO{ Ps aif{sf] cjlw k"/f u/]sf], ndh'+Ë lhNnf, afx'g8f+8f / e'ne'n] uf=lj=;=x? -xfn d:of{ªbL ufpFkflnsf j8f g+= _ df /x]sf] #) d]ufjf6 Ifdtfsf] GofbL xfO8«f]kfj/ kl/of]hgf sf] sfo{ xfn lgdf{0fflwg r/0fdf /x]sf] . v_ k|rlnt sfg"g adf]lhd n]vfk/LIf0f tyf ;fwf/0f;ef ;DkGg u/]sf] , cf=j= @)&@÷&# sf] n]vfk/LIf0f tyf ;fwf/0f ;ef ldlt @)&#÷)&÷)! df ;DkGg ePsf] . u_ cfˆgf] p2]Zo cg';f/ sf/f]af/ ;~rfng ug{sf nflu k|rlnt sfg"g adf]lhd s'g} lgsfoaf6 Ohfht, cg'dlt jf :jLs[lt lng'kg]{ ePdf To:tf] Ohfht, cg'dlt jf :jLs[lt lnO;s]sf], #) d]ufjf6 Ifdtfsf] GofbL xfO8«f]kfj/ kl/of]hgf ;+rfngsf] nflu g]kfn ;/sf/, ljB't ljsf; ljefuaf6 ldlt @)^( kmfu'g # ut] Ohfht k|fKt u/]sf] . 3_ ;+ul7t ;+:yfsf] nflu cfjZos kg]{ hUuf v/Lb jf cGo k|sf/sf] Joj:yf u/L sf/vfgf ejg, sfof{no ejg, uf]bfd3/ tyf cGo cfjZos ;'ljwfx?sf] lgdf{0f sfo{ z'? ul/;s]sf], kl/of]hgfsf] nflu cfjZos kg]{ hUuf v/Lb u/L sfof{no ejg nufot kl/of]hgfsf] lgdf{0f sfo{ e} /x]sf] . ª_ pTkfbgsf] k|ljlw 5g}f6 u/L pBf]usf] nflu cfjZos kg]{ oflGqs pks/0f tyf To;sf kf6{k"hf{ cflb v/Lb ug'{kg]{ ePdf 6]08/ cflb u/L v/Lb k|s[of cufl8 a9fO{ ;s]sf], o; kl/of]hgf Olk;L df]8]ndf l;len, xfO8«f]d]sflgsn tyf On]S6«f]d]sflgsn jS;{x? Pp6} 7]]s]bf/ >L lemHof+u xfO8«f]kfj/ sG:6«s;g P08 OG:6n]zg s+= lnld6]8, rfOgf dfkm{t ;DkGg u/fpg] u/L 7]Ssf k|bfg ePsf] / kl/of]hgfsf] nflu cfjZos kg]{ oflGqs pks/0f tyf cGo kf6{k"hf{ cflb vl/b ug]{ sfo{ cufl8 j9fO{ ;s]sf] . r_ lwtf]kqsf] ;fj{hlgs lgisfzg ;DaGwdf lgisfzg tyf laqmL k|aGws;Fu ;Demf}tf eO;s]sf], a'6jn kfj/ sDkgLaf6 k|jl4{t o; kl/of]hgfdf nufgL ug{ a'6jn kfj/ sDkgLn] lwtf]kqsf] ;fj{hlgs lgisfzg ;DaGwdf PgPdla Soflk6n lnld6]8 tyf nIdL Soflk6n dfs]{6 lnld6]8nfO{ lgisfzg tyf laqmL k|aGws lgo'QmL u/L ;Demf}tf eO;s]sf] . 5_ cfof]hgfsf] lgdf{0f cjlwe/ sDkgLsf] C0f / k"FhLsf] cg'kft lgb]{lzsfdf tf]lsPsf] cg'kftdf /fVg ;xdt ePsf], a'6jn kfj/ sDkgLaf6 k|jl4{t o; GofbL xfO8«f]kfj/ kl/of]hgfdf nufgL ug{ sDkgLsf] C0f / k"FhL &% M @% sf] cg'kftdf /fVg ;xdt ePsf] . h_ ;+:yfksx?n] lng sa'n u/]sf] lwtf]kqsf] /sd zt k|ltzt r'Qmf e};s]sf], ;+:yfksx?n] lng sa'n u/]sf] GofbL xfO8«f]kfj/ lnld6]8n] dfu u/]sf] lwtf]kqsf] /sd zt k|ltzt r'Qmf e};s]sf], em_ kl/of]hgf lgdf{0fsf nflu kmfOgflG;on Snf]h/ (financial closure) e}+;s]sf], GofbL xfO8«f]kfj/ kl/of]hgf ;+rfngsf] nflu df3 @), @)&@ df Pe/]i6 a}+ssf] g]t[Tjdf hDdf ^ j6f consortium a}+sx? ;+u kl/of]hgf lgdf{0fsf nflu kmfOgflG;on Snf]h/ (financial closure) e}+;s]sf] .

29

`_ hnljB't pTkfbg ;+:yf ePdf, ljB't v/Lb ;Demf}tf ul/;s]sf], ldlt h]i7 !@, @)&@ df g]kfn ljB't k|flws/0f;+u ljB't vl/b ljqmL ;Demf}tf -lklkP_ df x:tfIf/ ePsf] . 6_ ;j{;fwf/0fsf nflu lgisfzg ug{ nfu]sf] z]o/x? lgb]{lzsfdf tf]lsP adf]lhd k|Tofe"lt u/fPsf] . a'6jn kfj/ sDkgLaf6 k|jl4{t o; kl/of]hgfdf nufgL ug{ a'6jn kfj/ sDkgLn] lwtf]kqsf] yk ;fj{hlgs lgisfzg ug{ nfu]sf] z]o/x? lgb]{lzsfdf tf]lsP adf]lhd PgPdla Soflk6n lnld6]8, nIdL Soflk6n dfs]{6 lnld6]8, PgcfO{laPn Soflk6n dfs]{6\; lnld6]8, Unf]an cfOPdO{ Soflk6n lnld6]8 / glan OGe]i6d]G6 a}+lsËaf6 k|Tofe"lt u/fPsf] .

sfj]nL OghL{ lnld6]8 s_ cfˆgf] p2]Zo cg';f/ sf/f]af/ ;~rfng ug{sf nflu cfjZos sfo{x? cufl8 a9fO{ Ps aif{sf] cjlw k"/f u/]sf], kf+ry/ lhNnf, cd/k'/ uf=lj=;= j8f g+= % / ( -xfn lxlnxf+Ë ufpFkflnsf j8f g+ ! / $=_df /x]sf] #&=^ d]ufjf6 Ifdtfsf] sfj]nL P xfO8«f]kfj/ kl/of]hgf sf] sfo{ xfn lgdf{0fflwg r/0fdf /x]sf] . v_ k|rlnt sfg"g adf]lhd n]vfk/LIf0f tyf ;fwf/0f;ef ;DkGg u/]sf] , cf=j= @)&!÷&@ sf] n]vfk/LIf0f tyf ;fwf/0f;ef ldlt @)&#÷)@÷@! df ;DkGg ePsf] . u_ cfˆgf] p2]Zo cg';f/ sf/f]af/ ;~rfng ug{sf nflu k|rlnt sfg"g adf]lhd s'g} lgsfoaf6 Ohfht, cg'dlt jf :jLs[lt lng'kg]{ ePdf To:tf] Ohfht, cg'dlt jf :jLs[lt lnO;s]sf], #&=^ d]ufjf6 Ifdtfsf] xfO8«f]kfj/ kl/of]hgf ;+rfngsf] nflu g]kfn ;/sf/ ljB't ljsf; ljefuaf6 ldlt @)^( c;f]hdf Ohfht k|fKt u/]sf] . 3_ ;+ul7t ;+:yfsf] nflu cfjZos kg]{ hUuf v/Lb jf cGo k|sf/sf] Joj:yf u/L sf/vfgf ejg, sfof{no ejg, uf]bfd3/ tyf cGo cfjZos ;'ljwfx?sf] lgdf{0f sfo{ z'? ul/;s]sf], kl/of]hgfsf] nflu cfjZos kg]{ hUuf v/Lb u/L sfof{no ejg nufot kl/of]hgfsf] lgdf{0f sfo{ e} /x]sf] . ª_ pTkfbgsf] k|ljlw 5g}f6 u/L pBf]usf] nflu cfjZos kg]{ oflGqs pks/0f tyf To;sf kf6{k"hf{ cflb v/Lb ug'{kg]{ ePdf 6]08/ cflb u/L v/Lb k|s[of cufl8 a9fO{ ;s]sf], o; kl/of]hgfsf] l;len / xfO8«f]d]sflgsn jS;{ 7]]s]bf/ >L lemHof+u xfO8«f]kfj/ sG:6«s;g P08 OG:6n]zg s+= lnld6]8, rfOgf dfkm{t / On]S6«f]d]sflgsn jS;{ >L China Chongquing Water Turbine Works Co. Ltd. (CWTW), rfOgf dfkm{t ;DkGg u/fpg] u/L 7]Ssf k|bfg ePsf] / kl/of]hgfsf] nflu cfjZos kg]{ oflGqs pks/0f tyf cGo kf6{k"hf{ cflb vl/b ug]{ sfo{ cufl8 j9fO{ ;s]sf] . r_ lwtf]kqsf] ;fj{hlgs lgisfzg ;DaGwdf lgisfzg tyf laqmL k|aGws;Fu ;Demf}tf eO;s]sf], a'6jn kfj/ sDkgLaf6 k|jl4{t o; kl/of]hgfdf nufgL ug{ a'6jn kfj/ sDkgLn] lwtf]kqsf] ;fj{hlgs lgisfzg ;DaGwdf PgPdla Soflk6n lnld6]8 tyf nIdL Soflk6n dfs]{6 lnld6]8nfO{ lgisfzg tyf laqmL k|aGws lgo'QmL u/L ;Demf}tf eO;s]sf] . 5_ cfof]hgfsf] lgdf{0f cjlwe/ sDkgLsf] C0f / k"FhLsf] cg'kft lgb]{lzsfdf tf]lsPsf] cg'kftdf /fVg ;xdt ePsf], a'6jn kfj/ sDkgLaf6 k|jl4{t o; Gkl/of]hgfdf nufgL ug{ sDkgLsf] C0f / k"FhLsf] cg'kft &*M @@ sf] cg'kftdf /fVg ;xdt ePsf] . h_ ;+:yfksx?n] lng sa'n u/]sf] lwtf]kqsf] /sd zt k|ltzt r'Qmf e};s]sf], ;+:yfksx?n] lng sa'n u/]sf] sfj]nL OghL{ lnld6]8n] dfu u/]sf] lwtf]kqsf] /sd zt k|ltzt r'Qmf e};s]sf], em_ kl/of]hgf lgdf{0fsf nflu kmfOgflG;on Snf]h/ (financial closure) e}+;s]sf], sfj]nL xfO8«f]kfj/ kl/of]hgf ;+rfngsf] nflu ljZj a}+s tyf cGt//fli6«o ljQ lgud nufot g]kfnsf] Pg cfO{ ;L Pl;of a}sx? ;+u kl/of]hgf lgdf{0fsf nflu kmfOgflG;on Snf]h/ (financial closure) e}+;s]sf] . `_ hnljB't pTkfbg ;+:yf ePdf, ljB't v/Lb ;Demf}tf ul/;s]sf], ldlt c;f]h & , @)&@ df g]kfn ljB't k|flws/0f;+u ljB't vl/b ljqmL ;Demf}tf -lklkP_ df x:tfIf/ ePsf] . 6_ ;j{;fwf/0fsf nflu lgisfzg ug{ nfu]sf] z]o/x? lgb]{lzsfdf tf]lsP adf]lhd k|Tofe"lt u/fPsf] .

30

a'6jn kfj/ sDkgLaf6 k|jl4{t o; kl/of]hgfdf nufgL ug{ a'6jn kfj/ sDkgLn] lwtf]kqsf] ;fj{hlgs lgisfzg ug{ nfu]sf] z]o/x? lgb]{lzsfdf tf]lsP adf]lhd PgPdla Soflk6n lnld6]8, nIdL Soflk6n dfs]{6 lnld6]8, PgcfO{laPn Soflk6n dfs]{6\; lnld6]8, Unf]an cfOPdO{ Soflk6n lnld6]8 / glan OGe]i6d]G6 a}+lsË af6k|Tofe"lt u/fPsf] . v_ yk ;fj{hlgs lgisfzg -kmb{/ klAns O:o'_ ul/g] lwtf]kq k"0f{ ?kdf laqmL gePdf ;fj{hlgs

lgisfzgsf] nflu p2]Zo k|fKtL ug{sf] nflu ckgfOg] a}slNks Aoa:yf M yk ;fj{hlgs lgisfzg -kmb{/ klAns O:o'_ ul/g] lwtf]kq k"0f{ ?kdf laqmL gePdf ;fj{hlgs

lgisfzgsf] nflu p2]Zo k|fKtL ug{sf] nflu ckfgfOg] a}slNks Aoa:yfsf] nflu lgisfzg ul/g] ;Dk"0f{ z]o/ PgPdla Soflk6n lnld6]8, nIdL Soflk6n dfs]{6 lnld6]8, PgcfO{laPn Soflk6n dfs]{6\; lnld6]8 / Unf]an cfOPdO{ Soflk6n lnld6]8n] ztk|ltzt k|Tofe"lt u/]sf] 5 .

u_ cfof]hgfsf] ;+rfng :yfg, cfof]hgf r/0fa4 ?kdf sfof{Gjog ul/g] eP k|To]s r/0fdf nfUg] vr{, s'g} r/0f ;dfKt e};s]sf] eP ;f] ;DaGwL ljj/0f M

sfj]nL P kl/of]hgf M #&=^ d]ufjf6 Ifdtfsf] hnljB't kl/of]hgf kf+ry/ lhNnf, cd/k'/ uf=lj=;= j8f g+= % / ( df /x]sf] 5 . ldlt @)&# r}q !@ ut] b]lv kl/of]hgf lgdf{0f sfo{ z'? ePsf] 5 . o; kl/of]hgfsf nflu ?= (=^ cj{ s"n nfut nfUg] cg'dfg ul/Psf] 5 .

GofbL xfO8«f]kfj/ kl/of]hgf M d]ufjf6 Ifdtfsf] hnljB't kl/of]hgf ndh'+u lhNnf, afx'g8f+8f / e'ne'n] uf=lj=; df /x]sf] 5 . ldlt @)&# r}q !@ ut] b]lv kl/of]hgf lgdf{0f sfo{ z'? ePsf] 5 . o; kl/of]hgfsf] nflu ?= % cj{ *^ s/f]8 s"n nfut nfUg] cg'dfg ul/Psf] 5 .

3_ cfof]hgf ;DkGg x'g], kl/If0f pTkfbg z'? x'g] / k"0f{ Joj;flos pTkfbg z'? x'g] cg'dflgt ldlt M sfj]nL P kl/of]hgf M cg'dflgt ldlt @)&& ;fn a}zfvdf ;DkGg eO{ !% lbg kl/If0f pTkfbg u/L To;kl5 k"0f{ Joj;flos pTkfbg z'? x'g] .

GofbL xfO8«f]kfj/ kl/of]hgf M cg'dflgt ldlt @)&& ;fn a}zfvdf ;DkGg eO{ !% lbg kl/If0f pTkfbg u/L To;kl5 k"0f{ Joj;flos pTkfbg z'? x'g] .

ª_ ;+ul7t ;+:yfn] s'g} pks/0f v/Lb u/]sf] jf ug{ nfu]sf] eP pQm pks/0fsf] d"No jf k|:tfljt d"No, ;Knfo;{sf] gfd / ;Knfo;{;Fu ;Demf}tf ePsf] eP ;f] sf] d"Vo d"Vo a"Fbfx? M

sfj]nL P kl/of]hgf M o; kl/of]hgfsf] l;len / xfO8«f]d]sflgsn jS;{ 7]]s]bf/ >L lemHof+u xfO8«f]kfj/ sG:6«s;g P08 OG:6n]zg s+= lnld6]8, rfOgf dfkm{t / On]S6«f]d]sflgsn jS;{ >L CWTW, rfOgf dfkm{t ;kGg u/fpg] u/L 7]Ssf k|bfg ePsf] / kl/of]hgfsf] nflu cfjZos kg]{ oflGqs pks/0f tyf cGo kf6{k"hf{ cflb vl/b ug]{ sfo{ cufl8 j9fO{ ;s]sf] .

GofbL xfO8«f]kfj/ kl/of]hgf M o; kl/of]hgf Olk;L df]8]ndf l;len, xfO8«f]d]sflgsn tyf On]S6«f]d]sflgsn jS;{x? Pp6} 7]]s]bf/ >L lemHof+u xfO8«f]kfj/ sG:6«s;g P08 OG:6n]zg s+= lnld6]8, rfOgf dfkm{t ;kGg u/fpg] u/L 7]Ssf k|bfg ePsf] / kl/of]hgfsf] nflu cfjZos kg]{ oflGqs pks/0f tyf cGo kf6{k"hf{ cflb vl/b ug]{ sfo{ cufl8 j9fO{ ;s]sf] .

r_ s'g} kf6L{;Fu k|ltlnkL clwsf/, 6«]8dfs{, Ohfhtkq, /f]oN6L, ;xsfo{ ;DaGwdf jf ljQLo jf k|fljlws ;Demf}tf ul/Psf] eP ;f] sf] k|d'v zt{x? / kf6L{sf] gfd, 7]ufgf ;DaGwL lj:t[t ljj/0f M ;f] gePsf] .

5_ pTkfbg ;DaGwL cfof]hgf eP, ;f] sf] k|s[lt, k|of]ustf{, k|lt:kwf{, nlIft ;d"x, pTkfbg Ifdtf, ljut aif{x?sf] Ifdtf pkef]u jf eljiodf ul/g] Ifdtf pkef]u ;DaGwL ljj/0f M hnljB't ptkfbg u/L g]kfn ljB't k|flws/0fnfO{ ljqmL ug]{ ;jGwdf lklkPdf x:tfIf/ ePsf]n] nfu" gx'g] .

h_ cfof]hgfsf] nflu cfjZos sRrf kbfy{sf] pknAwtf / To;sf] >f]t M nfu" gx'g] . em_ cfof]hgfsf] nflu cfjZos x'g] ljB't, kfgL, Uof;sf] dfqf / To;sf] >f]t M nfu" gx'g] . `_ ;fj{hlgs lgisfzgsf] nflu ul/g] vr{ k|d'v ?kdf b]xfodf pNn]lvt kIfx?nfO{ lbg] z'Nsx? 5'§f5'§}

?kdf k|:t't ug'{ kg]{. c_ lgisfzg tyf laqmL k|aGws — ?= %,)),)))÷— cf_ 6«i6L -l8j]Gr/ lgisfzgsf] xsdf_ — lgisfzg ul/g] l8j]Gr/ geO{ ;fwf/0f z]o/ ePsf] .

31

O{_ k|Tofe"ltstf{x?nfO{ lgisflzt ul/g] ;Dk"0f{ z]o/sf] nflu k|Tofe'lt ;]jf k|bfg u/] jfkt ?= *&,$),%*#÷&* / k|Tofe"lt Joj:yfkgstf{ >L PgPdla Soflk6n lnld6]8nfO{ cltl/Qm z"Nssf ?kdf ?= (,&!,!&%÷(* u/L s'n ?= (&,!!,&%(÷&% sldzgsf] ?kdf lbOg] 5 .

O_ lj1x? — ljQLo k|If]k0f k'g/fjnf]sg u/L k|dfl0ft ug]{ lj1nfO{ ?= @),)))÷– -s/ afx]s_ p_ n]vfk/LIfs— o; ;fj{hlgs lgisfzgsf] nflu n]vfk/LIfsnfO{ e'QmfgL gul/Psf] . pm_ cGo -h:t}M ;+sng s]Gb|, lgisfzg a}+s cflb_ — cfZjf nfu' ePsf] x'gfn] ;f]nfu' gx'g] .

u_ ;fj{hlgs lgisfzgaf6 k|fKt /sdnfO{ kl/of]hgfdf k|of]u ug{ k"j{ cGo s'g} Joj:yf ug{ nfluPsf] 5

eg] tT;DaGwL ljj/0f M xfn;Dd To:tf] s'g} Joj:yf ul/Psf] 5}g . 3_ lk|ldoddf lwtf]kq hf/L ug]{ ePdf lk|ldod d"No lgwf{/0f ubf{ ckgfO{Psf] ljlw / cf}lrTo M

z]o/sf] c+lst d"No ?= !))÷– df lk|ldod jfkt ?= $)!÷– yk ul/ k|lt z]o/ ?=%)!÷– df lgisfzg ul/Psf] 5 . o;sf sf/0f / cf}lrTo lgDgfg';f/ 5g\ . !_ sDkgL P]g,@)^# sf] bkmf @( adf]lhd lk|ldod d"Nosf] z]o/ hf/L ug{;Sg] u/L b]xfo adf]lhdsf]

cj:yf k"/f ePsf] . s_ sDkgL ljut tLg jif{b]lv nuftf/ d'gfkmfdf ;+rfng eO{ nfef+z ljt/0f ul//x]sf] . v_ sDkgLsf] ;Dk"0f{ bfloTo eGbf v'b ;DktL (Net Worth) a9L /x]sf] . u_ sDkgLsf] ;fwf/0f ;efn] lk|ldod d"Nosf z]o/ hf/L ug]{ lg0f{{o u/]sf] .

@_ o; ljj/0fkq dfkm{t yk ;fj{hlgs lgisfzg -kmb{/ klAns O:o"_ dfkm{t ;j{;fwf/0fdf laqmL ul/g] ;fwf/0f z]o/sf] d"NofËg ;DjGwL sfo{ ug{sfnflu glan OGe]i6d]G6 a}+lsË lnld6]8, gS;fn, sf7df8+f}åf/f lwtf]kq lgisfzg tyf afF8kmfF6 lgb]{lzsfdf tf]lsPsf] ljlwåf/f d"NofÍg u/L d"No lgwf{/0f ul/Psf] xf] . pQm lj1af6 d"No lgwf{/0f ubf{ lgDg k|lqmofx? ckgfO{Psf] . ;f] ljj/0fx? la=cf/=P; Gof}kfg] P08 sDkgLsf Pkml;P >L 1fg]Gb| axfx'/ ef/Låf/f k|dfl0ft ul/Psf] 5 .

s_ k"FhLs[t ePsf] cfDbfgL Capitalized Earning Method åf/f d"NofÍg ubf{ z]o/sf] d"No ?= ##)÷)* x'g cfPsf] .

v_ Discounted Cash Flow Method åf/f d"NofÍg ubf{ z]o/sf] d"No ?= %!!÷^# x'g cfPsf]. u_ af]8{df lgj]bg lbg'eGbf ;ft lbg cuf8Lsf] Ps ;o c;L lbgsf] cf};t ahf/ d"No4f/f

d"NofÍg ubf{ z]o/sf] d"No ?= ^^$=@$ x'g cfPsf] . pk/f]Qm adf]lhd u0fgf u/L x'g cfPsf] s'n d"Nosf] cf}ift d"No u0fgf ubf{ ?= %)!÷(* x'g cfPsf] . To;}u/L lgisfzg sDkgLsf] kl5Nnf] n]vf k/LIf0f ePsf] ljQLo ljj/0f cg';f/sf] k|lt z]o/ g]6jy{sf] rf/ u'0ffn] x'g cfpg] d"No ?= *&!÷!* x'g cfPsf] .

yk ;fj{hlgs lgisfzgsf] d"No lgwf{/0f ljlwaf6 d"No u0fgf ubf{ ckgfOPsf d'Vo—d'Vo cfwf/x? h:t} cfwf/ Perpetual Growth Rate, Discount Rate, Beta, Risk Free Rate nufotsf ;Dk"0f{ ljj/0f tyf ;f] sf] cfwf/x?sf] ljj/0f lgDg adf]lhd /x]sf] 5 M

• CAGR sf] cfwf/df Market Rate of Return (RM) lnO{Psf] 5 / ;f] sf] u0fgf g]K;]sf] ljut !! jif{sf] compounded growth sf] cfwf/df u0fgf ul/Psf] 5 . CAGR ahf/df Pp6f bL3{sflng cfwf/df actual compounded growth b]vfpgsf nflu lng] ul/G5 . Market Rate 13=66 k|ltzt lnO{Psf] 5 .

• xfn;fn} hf/L ul/Psf] cjlw ;dfKt (mature) x'g afFls Citizen Saving Bonds sf] cf}ift coupon rate nfO{ Risk-free rate of return lnO{Psf] 5 . Average risk free rate 4=89 k|ltzt /x]sf] 5 .

• cf}ift Market Index sf] 36a9sf] a'6jn kfj/ sDkgL ln= sf] cf}ift z]o/ d"Nosf] 36a9 nfO{ cfwf/ dfgL Beta (risk) u0fgf ul/Psf] 5 . Beta 0=53 lnO{Psf] 5 .

• ljut !*) lbgsf] weighted average sf] cfwf/df a'6jn kfj/ sDkgL ln= sf] ahf/ d"No lnO{Psf] 5 .

• yk ;fj{hlgs lgisfzgsaf6 k|fKt x'g] /sdnfO{ gub k|jfx u0fgf ubf{ hf]l8Psf] 5 .

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• Perpetual Growth Rate Under Discounted Cash Flow model sf] u0fgf nflu ljut !) jif{sf] cf}ift GDP j[l4 nfO{ cfwf/ dflgPsf] 5 . nfdf] cjlwsf] cfly{s j[l4 ;lrqsf] nflu !) jif]{ j[l4nfO{ conservative cfwf/ lnOG5 .

• c? cfwf/x? g]kfn lwtf]kq af]8{af6 k|bfg ul/Psf] lgb]{zg / lgb]{lzsfx?af6 lnO{Psf] 5 . • sDkgLsf] j[l4sf] cjlw % jif{sf] nflu dflgPsf] 5 . sDkgLsf] cfufdL % jif{sf] ljQLo ljj/0f

k|If]lkt ul/Psf] 5 . % jif{ kl5 sDkgLsf] j[l4 GDP j[l4 cg';f/ cg'dfg ul/Psf] 5 . • Perpetual Growth Rate 4=69 k|ltzt lnO{Psf] 5 . • Discount Rate 9=51 k|ltzt lnO{Psf] 5 . lwtf]kq lgisfzg tyf afF8kmfF6 lgb]{lzsf, @)&$ sf] lgod #& adf]lhd kl5Nnf] tLg aif{sf] k"FhLs[t ePsf] cfDbfgL (Capitalized Earnings), eljiodf k|fKt x'g] gub k|jfxsf] jt{dfg d"No (Discounted Cash Flow) / af]8{df lgj]bg lbg'eGbf ;ft lbg cufl8sf] Ps ;o c;L lbgsf] cf};t ahf/ d"No u0fgf u/L k||fKt x'g] s"n d"Nosf] cf};t d"No u0fgf ubf{ lk|ldod d"No ?= %)!=(* x'g cfPsf] / sDkgLsf] kl5Nnf] n]vfk/LIf0f ePsf] ljQLo ljj/0f cg';f/sf] k|lt z]o/ g]6jy{sf] rf/ u'0ffn] x'g cfpg] d"No ?= *&!=(* ePsf] x'Fbf pk/f]Qm u0fgfsf cfwf/dWo] klxnf] cf}ift tl/sfaf6 k|fKt cf}ift lk|ldod d"No sd x'g cfPsf]n] k|lt z]o/ c+lst d"No ?=!))÷– df lk|ldod d"No ?= $)!=(* yk u/L k|lt z]o/ ?= %)!=(* df yk ;fj{hlgs lgisfzg -kmb{/ klJns O:o"_ ug{ ;lsg] l;kmfl/z e} cfPsf]df o; sDkgLsf] ;+rfns ;ldltsf] ldlt @)&$÷)^÷)^ df a;]sf] #!& cf}+ j}7saf6 k|lt z]o/ ?= %)!÷– df yk ;fj{hlgs lgisfzg -kmb{/ klJns O:o"_ ug]{ u/L g]kfn lwtf]kq af]8{df :jLs[ltsf] nflu k]z ug]{ lg0f{o ePsf] .

ª_ lwtf]kq afF8kmfF6, lkmtf{ e'QmfgL tyf ;"lrs/0f ;DaGwL Aoa:yf M

s_ cToflws dfu jf Go"g dfu ePsf] cj:yfdf afF8kmfF8sf] k|s[of M o; ljj/0fkq dfkm{t hf/L ul/Psf] ;fwf/0f z]o/ ;+Vof eGbf a9L ;+Vofdf ;fwf/0f z]o/ v/Lbsf]

nfuL b/vf:t k|fKt x'g cfPdf lwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf, @)&$ lgb]{lzsfdf ePsf] Joj:yf cg';f/ ;fwf/0f z]o/x? afF8kmFf8 ul/g]5 / z]o/ afF8kmfF8 ;DaGwL ;"rgf /fli6«o :t/sf] b}lgs klqsfdf k|sflzt ul/g]5 . yk ;fj{hlgs lgisfzg -kmb{/ klAns O:o'_ ul/g] lwtf]kq k"0f{ ?kdf laqmL gePdf ;fj{hlgs lgisfzgsf] nflu p2]Zo k|fKtL ug{sf] nflu ckfgfOg] a}slNks Aoa:yfsf] nflu lgisfzg ul/g] ;Dk"0f{ z]o/ PgPdla Soflk6n lnld6]8, nIdL Soflk6n dfs]{6 lnld6]8, PgcfO{laPn Soflk6n dfs]{6\; lnld6]8, Unf]an cfOPdO{ Soflk6n lnld6]8 / glan OGe]i6d]G6 a}+lsË lnld6]8n]] ztk|ltzt k|Tofe"lt u/]sf] 5 .

v_ cToflws dfu ePsf] jf afF8kmfF6 gePsf] cj:yfdf lkmtf{ e'QmfgL ;DaGwL Joa:yf M z]o/ laqmL aGb ePsf] ldltn] g]kfn lwtf]kq af]8{n] lgwf{l/t u/]sf] ;doleq z]o/ afF8kmfF8 u/L k"0f{ jf cf+lzs ?kdf :jLs[t÷c:jLs[t ePsf] Joxf]/f hgfO{Psf] z]o/sf] afF8kmfF8kq (Allotment Letter) / /sd lkmtf{ e'QmfgL lbOg]5 .

u_ lgj]bg ;fy k|fKt /sdsf] lkmtf{ e'QmfgLdf l9nfO{ ePdf lbOg] Aofhb/ M ælwtf]kq lgisfzg tyf afF8kmfF6 lgb]{lzsf, @)&$Æ df ePsf] Joj:yf cg';f/ tf]lsPsf] ;dofjlwleq afF8kmfF8kq tyf /sd lkmtf{ e'QmfgL lbg g;s]df lwtf]kq laqmL aGb ePsf] ldltb]lv e'QmfgL lbg z'? u/]sf] cl3Nnf] lbg;Dd ;/sf/L C0fkqsf] k|rlnt clGtd Aofhb/sf] cfwf/df x'g cfpg] Aofh jfktsf] /sd ;lxt lkmtf{ e'QmfgL ul/g]5 . pk/f]Qm Joj:yf cf:af (ASBA) ;b:o a}+s tyf ljQLo ;+:yfaf6 cfj]bg lbg] cfj]bsx?sf] xsdf nfu' x'g]5}g .

3_ lwtf]kqsf] afF8kmfF8 tyf k|df0fkq hf/L ;DaGwL k|s[of / ;dofjlw M lgisfzg ul/g] ;fwf/0f z]o/ k|rlnt lwtf]kq lgisfzg tyf afF8kmfF6 lgb]{lzsf, @)&$ ;DaGwL Joj:yf cg';f/ ;fwf/0f z]o/sf] afF8kmfF6 u/L ;DaGwLt lgsfodf ;"lrs/0f kZrft ;DaGwLt cfj]bsn] cfj]bg kmf/ddf pknAw u/fPsf] lxtu|fxL vftfdf afF8kmfF6df k/]sf] z]o/ ljt/0f ug]{ Joj:yf ldnfOg]5 .

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ª_ lwtf]kq ;"lrs/0f e};s]sf] eP, To:tf] lwtf]kq ;"rLs/0f ul/Psf] lwtf]kq ahf/sf] gfd / lwtf]kq sf/f]jf/ z'? x'gsf] nflu ;+ul7t ;+:yfn] k"/f ug'{ kg]{ zt{x? ;DaGwL ljj/0f M yk ;fj{hlgs lgisfzg ul/g] z]o/ ;"lrs/0f e};s]sf] 5}g .

r_ lwtf]kq ;"lrs/0f e}g;s]sf] eP, ;+ul7t ;+:yfn] lgisfzg tyf laqmL ul/g] lwtf]kqx? k|rlnt P]g, lgod cg';f/ ;xh v/Lb laqmL jf ljlgdo x'g ;Sg] u/fpgsf] nflu ul/g] Joj:yf ;DaGwL ljj/0f M yk ;fj{hlgs lgisfzg ul/g] ;fwf/0f z]o/ k|rlnt z]o/ lgisfzg tyf afF8kmfF8 ;DaGwL Joj:yf cg';f/ ;fwf/0f z]o/sf] afF8kmfF8 u/] kZrft\ g]kfn :6s PS;r]Gh lnld6]8 tyf l;l8P; P08 lSnol/Ë lnld6]8df k|rlnt Joj:yf cg';f/ ;"lrs/0f tyf btf{ u/fO{ z]o/ v/Lb laqmL tyf /fkm;fkmsf] nflu cfjZos Joj:yf ldnfOg]5 .

r_ k|Tofe"lt ;DaGwL ljj/0f M

s_ lwtf]kq k|Tofe"lt ug]{ ;+ul7t ;+:yfsf] gfd, 7]ufgf / k|Tofe"lt ug]{ lwtf]kqsf] ;+Vof / /sd lwtf]kq k|Tofe"lt ug]{ ;+ul7t ;+:yfsf] gfd, 7]ufgf / k|Tofe"lt ug]{ lwtf]kqsf] ;+Vof / /sdsf] ljj/0f b]xfo adf]lhd /x]sf] 5 .

l;=g+= k|Tofe"lt ug]{ ;+ul7t ;+:yfsf] gfd / 7]ufgf k|Tofe"lt ug]{

lwtf]kqsf] ;+Vof k|Tofe"lt ug]{

lwtf]kqsf] /sd ! PgPdla Soflk6n lnld6]8, gfukf]v/L, sf7df8f}+ 13,97,200 69,99,97,200 @ nIdL Soflk6n dfs]{6 lnld6]8, gofF afg]Zj/, sf7df8f}+ 4,88,200 24,45,88,200 # PgcfOlaPn Soflk6n dfs]{6\; lnld6]8, nflHdkf6, sf7df8f}+ 11,97,600 59,99,97,600 $ Unf]an cfOPdO{ SofkL6n lnld6]8, hdn, sf7df8f}+ 2,39,520 11,99,99,520 % Unf]an cfOPdO ;Dd'Ggt of]hgf–! 1,59,680 7,99,99,680 ^ glan OGe]i6d]G6 a}+ls+Ë lnld6]8, gS;fn, sf7df8f}+ 2,99,400 14,99,99,400 & glan Aofn]G; km08 –! 1,12,275 5,62,49,775 * glan OlSj6L km08 1,87,125 9,37,49,625

hDdf 40,81,000 2,04,45,81,000 v_ lwtf]kq k|Tofe"ltstf{;Fu ul/Psf] ;Demf}tfsf] d"Vo d"Vo aF"bfx? M

!= ;j{;fwf/0faf6 dfly pNn]lvt lgisfzg sDkgLsf] v/Lb k|Tofe"lt ul/Psf z]o/x¿ cflz+s jf k"0f{ ?kdf v/Lb gePsf] cj:yfdf v/Lb k|Tofe"ltstf{x?n] pNn]lvt cg'kftdf ul/Psf] k|Tofe"tL k|ltj4tf adf]lhd z]o/ v/Lb ug{] .

@= k|To]s k|Tofe"ltstf{sf] bfloTj lghn] k|Tofe"lt ug{ dGh'/ u/]sf] /sdsf] xb;Dd dfq sfod /xg]5 . s'g} k|Tofe"ltstf{n] cfkm\gf] bfloTj k"/f gu/]df ;f] sf] bfloTj cGo k|Tofe"ltstf{df ;g]{ 5}g . lgisfzg sDkgLn] lgisfzg ug]{ z]o/x? k"0f{?kdf v/Lb eP kl5 k|Tofe"ltstf{sf] bfloTj :jtM ;dfKt x'g]5 .

#= k|Tofe"lt ;Demf}tfkqdf x:tfIf/ u/]sf] ldltaf6 ^ dlxgf;Dddf z]o/ lgisfzg ul/;Sg' kg]{5 / s'g} sf/0fkl/ ;f] cjlwleq z]o/ lgisfzgsf] sfo{ ;DkGg x'g g;s]df lgisfzg sDkgLnfO{ yk ljQLo ef/ gkg]{ u/L ;f] cjwL csf]{ ^ dlxgfsf nflu yk x'g]5 . t/, ;f] yk cjlw ;d]t ;dfKt ePdf of] ;Demf}tf cGTo x'g]5 / gofF ;Demf}tf ug'{ kg]{5 .

5_ cfj]bg lb+bf Wofg lbg' kg]{ s'/fx? M s_ lwtf]kqjfnfsf] clwsf/ tyf k|ltaGwfTds Joj:yfx? h:t} dtflwsf/, nfef+z, xsk|b z]o/,

lwtf]kqjfnfsf] clwsf/df kl/jt{g ug]{ k|s[of tyf lwtf]kqsf] vf/]hL cflb ;DaGwL ljj/0f M != o; ljj/0fkq dfkm{t lgisfzg ul/g] yk ;fj{hlgs lgisfzg ul/g] ;fwf/0f z]o/x? afF8kmfF8

u/] kZrft sfod x'g] z]o/wgLx?n] k|rlnt sfg"g adf]lhd pknAw x'g] xs clwsf/sf] k|of]u ug{ kfpg] .

@= k|rlnt sDkgL sfg'g tyf g]kfn lwtf]kq af]8{sf] af]g; z]o/ ;DaGwL lgb]{lzsfsf] clwgdf /xL a}+sn] cfh{g u/]sf] d'gfkmfaf6 af]g; z]o/ jf nfef+z ljt/0f ug{ ;Sg]5 / cfjZostf cg';f/

34

g]kfn lwtf]kq af]8{ tyf cGo ;DalGwt lgodg lgsfox?sf] :jLs[tL lnO{ xsk|b z]o/ ;d]t hf/L ug{ ;Sg]5 .

v_ lgodfjnL, k|aGwkq k|fKt ug]{ jf x]g{ ;Sg] 7fpF, e'QmfgL ug]{ tl/sf, lng'kg]{ Go"gtd lwtf]kq ;+Vof / ;f] eGbf dfly lng] ePdf s'g u'0ffÍdf lng ;Sg] xf] ;f] ;DaGwL ljj/0f M != o; sDkgLsf] k|aGwkq tyf lgodfjnL sfof{no ;doleq sDkgLsf] /lhi6{8{ sfof{no, a'4gu/,

sf7df08f}+, lwtf]kq lgisfzg, laqmL k|aGws PgPdla Soflk6n lnld6]8, gfukf]v/L, sf7df8f}+ tyf ;x–lwtf]kq lgisfzg tyf laqmL k|aGws nIdL Soflk6n dfs]{6 lnld6]8, gofF afg]Zj/, sf7df8f}+df ;Dks{ /flv x]g{ jf k|fKt ug{ ;lsg]5 .

@= o; ljj/0fkq dfkm{t lgisfzg ul/g] z]o/ v/Lbsfnflu b/vf:t lbFbf b/vf:tjfnfn] b/vf:t;fy cfkm"n] v/Lb ug{ rfx]sf] ;fwf/0f z]o/ ;+Vofsf] k|lt z]o/ ?= %)!÷–sf b/n] x'g cfpg] Psd'i6 /sd o; lgisfzgsf] nflu tf]lsPsf] ;+sng s]Gb|x?df hDdf u/L ;f] sf] ;Ssn ef}r/ jf a}+s 8«fˆ6 ;+nUg u/L b/vf:t lbg'kg]{5 .

#= o; ljj/0fkq dfkm{t\ lgisfzg ul/g] z]o/sf] nflu b/vf:t lbFbf b/vf:tjfnfn] Go'gtd !) -bz_ lsQf / !) c+ssf] u'0ffÍdf clwstd @),$)) -aL; xhf/ rf/ ;o_ lsQf;Dd z]o/ vl/b ug{sf nflu b/vf:t lbg ;lsg]5 .

u_ cfj]bg lb+bf kfngf ug'{kg]{ zt{ aGb]hx? h:t} Ps eGbf a9L b/vf:t lbg gkfOg], nufgLstf{sf]

klxrfgsf] nflu gful/stf÷hGdbtf{sf] k|dfl0ft k|df0fkqsf] k|ltlnlk k]z ug'{kg]{ jf lwtf]kq bnfn Joj;foLn] lbPsf] u|fxssf] kl/ro gDa/ / ;DalGwt Joj;foLsf] gfd v'nfpg'kg]{ / a}+s vftf dfkm{t sf/f]af/ ul/g'kg]{ h:tf kIfx? M

!= s'g} klg g]kfnL gful/sn] o; ljj/0fkq cg';f/ hf/L ul/g] z]o/ v/Lb ug{ cfj]bg lbg ;Sg]5g\ . @= cf:jf k|0ffnL cGtu{tsf] cfj]bg lbFbf eg'{kg]{ cg';"rL $ sf] ;Dk"0f{ ljj/0fx? :ki6 ?kdf v'nfpg' kg]{5 . s= lwtf]kq lgisf;gstf{ sDkgLsf] gfd .

v= cfj]bssf] gfd, y/, 7]ufgf, gful/stf g+=, b:tvt, ;Dks{ kmf]g g+=, Od]n 7]ufgf . u= gfjfns / ljlIfKt JolQmsf] xsdf ;+/Ifssf] gfd, y/ / gftf . 3= vl/b ug{ rfx]sf] lwtf]kqsf] ;+Vof -c+s / cIf/df_ . ª= vl/b ug{ rfx]sf] lwtf]kq jfktsf] /sd -c+s / cIf/df_ . r= cfj]bssf] vftf /x]sf] a}+ssf] gfd, 7]ufgf, vftf g+= / vftfsf] lsl;d . 5= cfj]bssf] lxtu|fxL -l8Dof6_ vftf gDa/ .

#= cfj]bsx?n] cfj]bg lb+bf cf:jf ;b:o a}+sx?df /x]sf] cfj]bg jfktsf] /sd /f]Ssf /flvg] vftf cGo s'g} k|sf/n] /f]Ssf /x]sf] jf lgliqmo (Dormant) /x]sf] x'g'x'Fb}g .

$= cfj]bg lbPsf] /sd a/fa/sf] /sd vftfdf x'g' kg]{5 . %= ælwtf]kq v/Lb -;fj{hlgs lgisfzg_ ;DaGwL lgb]{lzsf, @)&#Æ cg'?k cf:af (ASBA) ;b:o a}+s tyf ljQLo ;+:yfaf6

cfj]bg lbg] cfj]bsx?sf ;DjlGwt a}+s tyf ljQLo ;+:yfn] g} afF8kmfF8df gkg]{ nufgLstf{sf] lwtf]kq v/Lbsf] cfj]bg adf]lhd /f]Ssf /fv]sf] vftfsf] /sd dfq /f]Ssf km's'jf ul/lbg]5 .

= Ps JolQmn] cfkm"n] vl/b ug{ rfx]sf] ;fwf/0f z]o/sf] nflu Ps eGbf a9L b/vf:t lbg] kfOg] 5}g . olb Ps JolQmsf] gfddf Ps eGbf a9L cfj]bg k|fKt x'g cfPdf ;Dk"0f{ b/vf:tnfO{ /2 ul/g]5 .

&= b/vf:t kmf/fddf unt ljj/0f e/]sf] jf pNn]v ug'{kg]{ ;Dk"0f{ ljj/0f pNn]v gu/]sf] jf e/]sf] gkfOPdf ;f] b/vf:t kmf/fdnfO{ /2 ul/g]5 .

*= lwtf]kq v/Lbsf] nflu b/vf:t lb+bfsf] cj:yfdf jf b/vf:t lbO{;s]kl5 v/Lb u/]sf] lwtf]kq jfktsf] /sd e'QmfgL gx'Fb} k|rlnt sfg'g adf]lhd clwsf/ k|fKt clwsf/L jf lgsfoaf6 nufgLstf{sf] vftf /f]Ssf /fVg] cfb]z k|fKt ePdf lgZsf;g tyf ljqmL k|aGwsn] To:tf] b/vf:t kmf/fdnfO{ /2 ul/g] x'Fbf ;f] s'/fsf] hfgsf/L cfj]bs :jo+n] a'‰g' kg]{5 .

(= lwtf]kq afF8kmfF6 ug'{k"j{ clVtof/ k|fKt lgsfoaf6 s'g} nufgLstf{sf] vftf /f]Ssf /fVg cfb]z jf lgb]{zg k|fKt ePdf ;DalGwt a}+s jf ljQLo ;+:yfn] To:tf] cfb]z jf lgb]{zg cg';f/ ;DalGwt nufgLstf{sf] vftf /f]Ssf u/L To;sf] hfgsf/L t'?Gt lgisfzg tyf ljqmL k|aGwsnfO{ lbg'kg]{5 .

35

!)= z]o/sf] afF8kmfF8 u/L ;"lrs/0f eP kZrft afF8kmfF8df k/]sf cfj]bsx?nfO{ afF8kmfF8df k/]sf] z]o/ lghx?sf] lxtu|fxL vftfdf hDdf ug{] Joj:yf ul/g] ePsfn] ;Dk"0f{ cfj]bsx?n] clgjfo{ ?kdf cf gf] lxtu|fxL vftf g+= cfj]bg kmf/ddf pNn]v ug'{kg{]5 .

!!= l/tk"j{s k|fKt gePsf] b/vf:t tyf cfj]bg kmf/ddf pNn]v ePsf] lxtu|fxL vftf g+= / cfj]bssf] gfd l;l8P;;Lsf] clen]vdf km/s k/]sf] kfO{Pdf ;f] kmf/dnfO{ z]o/ afF8kmfF6df ;dfj]z gul/g] x'Fbf cfj]bg kmf/fddf e/]sf] lxtu|fxL vftf gDa/ cfj]bs :jo+n] olsg ug'{kg]{5 .

!! ;DalGwt kIf aLrsf] sf/f]af/ ;DaGwL ljj/0f M lgisfzgstf{ ;+ul7t ;+:yf / lgDg lnlvt kIf aLr ljut @ aif{sf] cjlwdf s'g} k|sf/sf] a:t'ut sf/f]jf/ ePsf] jf s'g} sf/f]jf/ ug{ k|:tfj ul/Psf] eP sf/f]jf/df ;+nUg AolQmx?sf] gfd, ltgLx?sf] ;+ul7t ;+:yf ;Fusf] ;DaGw, sf/f]af/sf] k|s[lt / /sd M s_ ;+ul7t ;+:yfsf] sfo{sf/L clws[t jf ;+rfnssf] ?kdf /x]sf] AolQm M sf/f]af/ gePsf] . v_ cfwf/e"t z]o/wgL M

sf/f]af/ gePsf] . u_ v08 -s_ / -v_ df pNn]lvt s'g} AolQmsf] Psf3/ kl/jf/ ;b:o M sf/f]af/ gePsf] . 3_ ;+ul7t ;+:yfsf] sfo{sf/L clws[t jf ;+rfns jf cfwf/e"t z]o/wgLn] #) k|ltzt jf ;f] eGbf a9L

dtflwsf/ x'g] u/L z]o/ :jfldTj u|x0f u/]sf] sDkgL jf ;+ul7t ;+:yf M sf/f]af/ gePsf] .

ª_ ;+ul7t ;+:yf jf To;sf] ;xfos sDkgLn] xfnsf] ;+rfns jf gLhsf] Psf3/sf] kl/jf/sf] ;b:osf nflu s'g} sf/f]jf/ jf ;Demf}tf u/]sf] 5 eg] ;f] jf ljj/0fkq k|sfzg ug'{ eGbf # aif{ cufl8sf] cjlwdf ;+:yfsf] ;+rfns jf ;+rfnssf] Psf3/ kl/jf/sf] ;b:osf nflu s'g} sf/f]jf/ jf ;Demf}tf u/]sf] eP ;f] s'/f M s'g} sf/f]jf/ jf ;Demf}tf u/]sf] 5}g .

r_ s'g} ;+rfns jf ;+rfnssf] Psf3/ kl/jf/sf] ;b:onfO{ s'g} C0f lbPsf] jf lgh;Fu lnPsf] eP pQm C0f ;DaGwL lj:t[t ljj/0f h:t} C0f afkt lnPsf] /sd, C0fsf] Aofhb/, C0f lnPsf] ldlt, C0f e'QmfgL cjlw cflb s'/f ljj/0fkqdf v'nfpg' kg]{ M s'g} C0f sf/f]af/ u/]sf] 5}+g .

!@ ljb]zL nufgL / Aoa:yfkg ;DaGwL ljj/0f M

ljb]zL nufgL / Aoa:yfkgdf ;+ul7t ;+:yf ;+rfng x'g] eP ;f] sf] ljj/0fsf ;fy} ;DalGwt ;Demf}tfsf] d'Vo tyf tflTjs a'Fbfx? M ;f] gePsf] .

!# ;"rLs[t ;+ul7t ;+:yfn] ;fj{hlgs lgisfzg ug]{ ePdf ;f] sf] ljj/0f M

s_ ;+ul7t ;+:yfsf] ljut # cfly{s aif{sf] pRrtd, Go"gtd, clGtd ahf/ d"Nosf ;fy} sf/f]jf/ ePsf] z]o/ ;+Vof M

cfly{s jif{ q}dfl;s cjlw

pRrtd ahf/ d"No

Go"gtd ahf/ d"No

clGtd ahf/ d"No

sf/f]jf/ ePsf] z]o/ ;+Vof

2073/074

k|yd !,)#) &() *)! #,%*,!^) bf];|f] *%) %$% %^) !,@&,$)% t];|f] &$* $^$ ^&* @,(#,!## rf}yf] &@% ^!! ^@) !,@#,#)*

2072/073

k|yd ^(! %*) %(% *,!@,@*& bf];|f] ^@) %!# %(% &^,*## t];|f] ^** %&# ^!) !,%&,!^% rf}yf] ($$ %(& *($ &,(&,!$$

2071/072

k|yd (!* ^#) ^() $(,!*! bf];|f] ^*^ %$) ^)% !,$(,&%! t];|f] ^&* %** ^)* !,^*,&)&

36

rf}yf] ^%) %(! ^!& @,^*,^&!

v_ af]8{df ljj/0fkq btf{sf] nflu k|:t't ug'{ eGbf ^ dlxgf cufl8sf] cjlwsf] dfl;s ?kdf pRr, Go"g / clGtd d"Nosf ;fy} k|To]s dlxgfdf sf/f]jf/ ePsf] s"n lbg / s'n sf/f]af/ ePsf] lwtf]kq ;+Vof

dlxgf clwstd z]o/ Go'gtd z]o/ clGtd ahf/ z]o/ sf/f]af/ sf/f]af/ d"No -¿=_ d"No -¿=_ d"No -?=_ ;+Vof lbg

@)&$÷&% sflt{s 650 594 619 2,44,486 20 @)&$÷&% c;f]h 657 600 642 94,660 15 @)&$÷&% ebf} 649 605 619 30,745 18 @)&$÷&% >fj0f 668 620 640 82,499 22 @)&#÷&$ c;f/ 670 611 620 24,471 17 @)&#÷&$ h]i7 693 648 651 61,752 20

!$ kl5Nnf] ;fj{hlgs lgisfzgsf] cg'dfg tyf pknAwL ;DaGwL ljj/0f M

;+ul7t ;+:yfn] o; eGbf cuf8L lwtf]kq lgisfzg ubf{ tof/ u/]sf] ljj/0fkq jf cGo ljj/0fx?df pNn]vLt ul/Psf nIo tyf sfo{qmdx? tyf v'b d'gfkmf xfl;n ug{ ;s]÷g;s]sf], g;s]sf] cj:yfdf nIo tyf sfo{qmdsf ;fy} ljj/0fkq jf cGo ljj/0fx?df k|If]lkt v'b d'gfkmf eGbf aL; k|ltzt jf ;f] eGbf a9Ln] Go"g x'g uPsf] eP o;/L km/s kgf{sf] sf/0f M o; yk ;fj{hlgs lgisfzg -kmb{/ klAns O:o'_ eGbf cl3 sDkgLn] xsk|b z]o/ lgisfzg u/]sf] / ;f] k|of]hgsf] nflu k|sflzt ljj/0fkqdf pNn]lvt v'b d'gfkmf eGbf a9L d'gfkmf cfh{g ug{ sDkgL ;kmn ePsf]] 5 .

!% k/fdz{bftf÷ laz]if1 ;DaGwL ljj/0fM s_ n]vfk/LIfs, k|d'v a}+s, lgisfzg sfo{;Fu ;+nUg a}+s, k|If]lkt ljQLo ljj/0f 7Ls 5 egL k|dfl0ft

ug]{ lj1 cflbsf] gfd tyf 7]ufgf M c_ o; sDkgLsf] n]vfk/LIfsdf rf6{8{ PsfpG6]06 ;+:yf lacf/P; Gof}kfg] P08 sDkgLsf rf6{8{

Psfp06]06 >L 1fg]Gb| axfb'/ ef/LHo"/xg' ePsf] 5 . cf_ o; lgisfzgsf] nflu k|d'v a}+ssf] Joj:yf ul/Psf] 5}g . O_ o; ljj/0fkqdf pNn]lvt ljQLo ljj/0f tyf k|If]k0fsf] cg'dfg tyf cfwf/x? xfnsf] ljQLo

ahf/sf] l:ylt, lgisfzgstf{ a}+ssf] xfnsf] bIftf / lgisfzgstf{ sDkgLn] k|fKt u/]sf] xfn;Ddsf] sfo{ k|ultsf] cfwf/df k'g/fjnf]sg u/L ljj/0f 7Ls 5 egL rf6{8{ Psfp06]06 ;+:yf lacf/P; Gof}kfg] P08 sDkgLsf rf6{8{ Psfp06]06 >L 1fg]Gb| axfb'/ ef/LHo"n] k|dfl0ft ug'{ePsf] 5 .

O{_ yk ;fj{hlgs lgisfzgsf] d"No lgwf{/0f >L glan OGe]i6d]G6 a}+lsË ln=n] ug'{ePsf] xf] tyf ;f]nfO{ n]vfkl/Ifsdf lacf/P; Gof}kfg] P08 sDkgLsf rf6{8{ Psfp06]06 >L 1fg]Gb| axfb'/ ef/LHo"n] k|dfl0ft ug'{ePsf] xf] .

-v_ dfly v08 -s_df pNn]lvt ;+:yf jf JolQm;Fu ePsf] ;xdltsf d'Vo d'Vo a"Fbf tyf zt{x?M

• n]vfk/LIfs M ;f] gePsf] .

• lgisfzg a}+s (Bankers to the Issue) M lwtf]kq v/Lb -;fj{hlgs lgisfzg_ ;DaGwL lgb]{lzsf, @)&# k"0f{ ?ddf nfu' eO{;s]sf] ;Gbe{df ;f] Joj:yf nfu' gx'g] .

!^ cfof]hgf ;DkGg ug{sf] nflu ;fj{hlgs lgisfzg afx]s cGo ljQLo >f]tx? k|of]u ul/Psf] 5÷5}g,

tT;DaGwL ljj/0f M nfu" gx'g] . !&= d'2f tyf ljjfb ;DaGwL ljj/0f M

37

s_ ;+ul7t ;+:yfsf] t/ntf, df}Hbft, sfo{ ;+rfngdf tflTjs c;/ kg]{ vfnsf] s'g} d'2fdfldnf jf

ljjfb eP ;f] ;DaGwL ljj/0f tyf pk/f]Qm d'2f jf ljjfbsf] sf/0faf6 kg{ ;Sg] k|efj ;DaGwdf Aoa:yfkgsf] wf/0f M ;f] gePsf] .

v_ ;+ul7t ;+:yfnfO{ c;/ kg]{ u/L ;+:yfsf] ;+:yfks÷;+rfnsn] jf nfO{ bfo/ ul/Psf] d'2f ;DaGwL ljj/0f M xfn;Dd ;+ul7t ;+:yfnfO{ c;/ kg]{ u/L ;+:yfsf] ;+:yfks÷;+rfnsn] jf nfO{ d'2f bfo/ ul/Psf] 5}g .

u_ ljut kfFr aif{df ;+ul7t ;+:yfsf] s'g} ;+:yfks÷;+rfns sfnf];"rLdf k/]sf] jf s'g} g}lts jf cfly{s sf/0faf6 s'g} lgodg lgsfo jf cbfntn] ;hfo u/fPsf] eP, To:tf] ;+rfnssf] gfd / ;hfo ug]{ lgodg lgsfo jf cbfntsf] gfd pNn]v ug'{ kg]{ M ;f] gePsf] .

3_ ;+ul7t ;+:yf a}+s jf ljQLo ;+:yfdf C0f glt/L l8kmN6 ePsf], lgod cg';f/sf] z'Ns glt/]sf], lwtf]kqjfnfx?sf] s'g} /sd e'QmfgL gul/Psf] eP tT;DaGwL ljj/0fx? M ;f] gePsf] .

!*= u'gf;f] ;'Gg] / ;dfwfg ug]{ k|s[of M

o; ;fj{hlgs lgisfzg ;DaGwdf nufgLstf{x?sf] u'gf;f] ;'Gg / ;f] sf] ;dfwfgsf] nflu lwtf]kq lgisfzg tyf laqmL k|aGwssf] sfof{no PgPdla Soflk6n lnld6]8, gfukf]v/L, sf7df08f}+df Ps ljz]if sIfsf] Joj:yf ul/Psf] 5 ;fy} u'gf;f] ;'Gg / ;f] sf] ;dfwfgsf] nflu lwtf]kq lgisfzg tyf laqmL k|aGwssf] sfof{nodf :d[lt dxh{gnfO{ kmf]g g+ $$#&(^) df ;Dks{ ug{ ;lsg]5 .

!( gub glnO{ s;}nfO{ lwtf]kq lgisfzg ul/Psf] 5 eg] To:tf] JolQm jf ;d"xsf] gfd, v/Lb ul/Psf]

;DklQ jf ;]jf ;DaGwL ljj/0f, lgisfzg ul/Psf] lwtf]kqsf] ;+Vof / b/ ;DaGwL ljj/0f M ;f] gePsf] . @) C0fkq lgisfzg ;DaGwL ljj/0f M ;f] gePsf] . @! cu|flwsf/ z]o/ lgisfzg ;DaGwL Joj:yf M;f]gePsf] . @@ cGo ;fdfGo hfgsf/L M

s_ ljz]if1sf] s'g} /fo ePdf, ;f] sf] ljj/0f M ;f] gePsf] . v_ ut tLg cfly{s jif{ leqdf s'g} ;+rfns, n]vfk/LIfs kl/jt{g ePsf] eP, ;f] sf] sf/0f M

qm=;+ Gffd cf=a= kl/jt{g ePsf] sf/0f != P;cf/ kf08] P08 sDkgL @)&@ &# # jif{sf] sfo{sfn ;dfKt ePsf] . @= lacf/P; Gof}kfg] P08 sDkgL @)&@ &# gofF lgo'Qm #= >L /Tg ;+;f/ >]i7 @)&@ &# xt]sf,] IKNNn] z]o/ laqmL u/]sf] sf/0f $= >L cf]d k|sfz >]i7 @)&@ &# gofF lgo'Qm %= >L lr/lGhLlj r6f}t @)&@ &# g]kfn ;/sf/af6 >L Zofd lszf]/

ofbjsf] :yfgdf gofF lgo'Qm u_ sDkgL ;lrjsf] gfd, 7]ufgf / of]Uotf M

>L xl/ axfb'/ a'9fyf]sL o; sDkgLdf sDkgL ;lrjsf] ?kdf sfo{/t x'g'x'G5 . pxFfsf] :yfoL 7]ufgf a];Lzx/ g=kf= j8f g+= ! / xfnsf] 7]ufgf sf7df8f}+ lhNnf, sf=d=kf= j8f g+ !!, yfkfynL /x]sf] 5 . pxFfsf] z}lIfs of]Uotf sfg'gdf :gftsf]Q/ /x]sf] 5 .

3_ yk ;fj{hlgs lgisfzg -kmb{/ klJns O:o"_ ug{sf nflu ;+rfns ;ldltaf6 ePsf] lg0f{o ;DaGwL ljj/0f M

o; sDkgLn]] $),*!,))) lsQf z]o/x?sf] yk ;fj{hlgs lgisfzg -kmb{/ klAns O{:o"_ dfkm{t lk|ldoddf hf/L ug{] l;nl;nfdf lwtf]kq lgisfzg tyf afF8kmf6 lgb]{lzsf, @)&$ sf] lgb]{zfg';f/

38

d"Nof+sgstf{ >L glan OGe]i6d]G6 a}+lsË ln= af6 k]z ul/Psf]] k|ltj]bg adf]lhd cf}ift d"No ?= %)!÷(* cfPsf]df ;+rfns ;ldltsf] ldlt @)&$÷)^÷)^ df a;]sf] #!& cf}+ a}7ssf] lg0f{ocg';f/ ?=!))÷– c+lst d"Nodf lk|ldod jfkt k|lt z]o/ ?= $)!÷– yk u/L hDdf k|lt z]o/ d"No ?= %)!÷– dfq sfod u/L pQm d"NonfO{ ljj/0fkqdf ;dfj]z u/L >L g]kfn lwtf]kq af]8{df :jLs[ltsfnflu k]z ug]{ lg0f{o ePsf] .

ª_ ;+ul7t ;+:yf jf o;sf z]o/wgLnfO{ s'g} ljz]if s/ ;'ljwf lbOPsf] eP, ;f] ;DaGwL ljj/0f M ;f]

gePsf] . r_ ;+ul7t ;+:yfsf] kl5Nnf] cfly{s jif{sf] n]vfk/LIf0f ePsf] jf;nft, gfkmf gf]S;fg lx;fj / gub

k|jfx ljj/0f k|fKt ug{ jf x]g{ ;Sg] 7fpF / ;do M sfof{no ;doleq lgDg :yfgx?df ;Dks{ /fvL sDkgLsf] kl5Nnf] cfly{s jif{sf] n]vfk/LIf0f ePsf] jf;nft, gfkmf–gf]S;fg lx;fj tyf gub k|jfxsf] ljj/0f k|fKt ug{ jf lg/LIf0f ug{ ;lsg]5 . != sDkgLsf] /lhi6{8{ -s]Gb|Lo_ sfof{no, a'4gu/, sf7df8f}+ . @= lwtf]kq lgisfzg tyf laqmL k|jGws >L PgPdla Soflk6n lnld6]8, gfukf]v/L, sf7df8f}+ tyf

;x–lgisfzg tyf laqmL k|jGws >L nIdL Soflk6n dfs]{6 lnld6]8, goFf afg]Zj/, sf7df8f}+ .

5_ af]g; z]o/ ;DaGwL Joj:yf M k|rlnt P]g / g]kfn lwtf]kq af]8{sf] k|rlnt af]g; z]o/ lgisfzg ;DaGwL Joj:yf cg';f/ af]g; z]o/ hf/L ug{ ;Sg]5 .

h_ z]o/jfnf, sd{rf/L jf c? s;}sf] nflu z]o/ ;'/lIft ug]{ Joj:yf ul/Psf] ePdf ;f] s'/f M != o; ljj/0fkq dfkm{t lgisfzg ul/g] ;fwf/0f z]o/x? z]o/jfnf, sd{rf/L jf c? s;}sf] nflu

;'/lIft ul/Psf] 5}g . @= o; ljj/0fkq adf]lhd lgisfzg ul/g] z]o/x? o; ljj/0fkqdf tf]lsPsf] ;d"xnfO{ k'/f laqmL

x'g g;s]df dfq afFls /x]sf z]o/x? k|rlnt sfg"g adf]lh ul/g]5 .

em_ sDkgLn] sDkgL P]gn] u/]sf] Joj:yfx?, cfˆgf] sf/f]af/;Fu ;DalGwt P]g, lgod tyf lgodg Joj:yf k"0f{ kfngf u/]sf] ;DaGwdf u/]sf] pb\3f]if0f M sDkgLn] sDkgL P]g, @)^# n] u/]sf] Joj:yfx?, cfkm"n] ug]{ Joj;fo;Fu ;DalGwt P]g, lgod tyf lgodg Joj:yf tyf lgodg lgsfox?n] lbPsf] lgb]{zgx?sf] k"0f{ ?kdf kfngf u/]sf] 5 / ;f]xL lgb]{zgx?sf] bfo/f leq /xL sfo{ ul//x]sf] / o; ljj/0fkqdf pNn]v ul/Psf] ljj/0fx? ;d]t ;f]xL cg'?k tof/ ul/Psf] xf] eGg] sDkgLsf] pb\3f]if0f /x]sf]5 .

`_ lwtf]kq laqmL ljt/0f ;DaGwL Joj:yf M cfof]hgf k|efljt If]qsf afl;Gbfsf] xsdf M

o; ljj/0fkq dfkm{t lgisflzt ;fwf/0f z]o/ laqmL ljt/0fsfnflu g]kfn lwtf]kq af]8{af6 cf:jf ;b:otf lnPsf a}+s tyf ljQLo ;+:yfx?af6 o; lgisfzgsf nflu cfj]bg kmf/d ljt/0f ;lxt b/vf:t kmf/d a'lemlng] Joj:yf u/] adf]lhd x'g]5 .

6_ qm]l86 /]l6Ë ;DaGwL Aoa:yf M o; ljj/0fkq cg';f/ ;j{;fwf/0fx?df lgisfzg ul/g] ;fwf/0f z]o/sf] nflu æqm]l86 /]l6Ë lgodfjnL, @)^*Æ sf] lgod # df ePsf] Aoa:yf adf]lhd g]kfn lwtf]kq af]8{af6 cg'dlt k|fKt qm]l86 /]l6Ë ;+:yf O{qmf g]kfn ln=, l8NnLahf/, sf7df08f}+af6 qm]l86 /]l6Ë u/fO{ æO{qmf Pglk cfO{lkcf] u|]8 #Æk|df0fkq k|fKt u/]sf] 5 . Oqmf g]kfnn] ! b]lv % KjfOG6 u|]l8Ë k|bfg ub{5 . h;df u|]8 ! n] alnof cfwf/ hgfpF5 eg] u|]8 % n] sdhf]/ cfwf/x? hgfpF5. u|]8 @, # / $ df k|of]u ul/g] + (Plus) lrGxn] o; ;d"xsf t'ngfTds ;sf/fTds l:yltnfO{ hgfpF5 . qm]l86 /]l6Ë ;DaGwL ljj/0f o; ljj/0fkqsf] cg';"rLdf ;+nUg ul/Psf] 5 .

39

7_ yk ;fj{hlgs lgisfzg -kmb{/ klAns O:o'_ dfkm{t z]o/ laqmL ug{ sDkgLn] b]xfo cj:yf k'/f u/]sf] 5 M !_ ljut kfFr aif{df sDtLdf kl5Nnf] tLg aif{ v'b d'gfkmfdf ;+rfng eO{ k|lt z]o/ g]6jy{ k|lt

z]o/ r'Qmf kF"hL eGbf a9L ePsf] . o; sDkgLljut kfFr aif{ tyf ;f] eGbf cuf8Lsf aif{x?df klg lg/Gt/ gfkmfdf ;+rfng eO{ /x]sf] / ljut tLg jif{sf] a}+ssf] k|lt z]o/ g]6jy{ tyf k|lt z]o/ r'Qmf kF"hL b]xfo adf]lhd /x]sf] 5 M l;=g+= cfly{s jif{ k|lt z]o/ r'Qmf kF"hL -?=_ k|lt z]o/ g]6jy{ -?=_ v'b d'gfkmf != )^*÷)^( 100 266.38 4,297,27,889 @= )^(÷)&) 100 247.84 29,61,62,405 #= )&)÷)&! 100 194.80 45,55,49,773 $= )&!÷)&@ 100 204.91 52,25,55,670 %= )&@÷)&# 100 217.80 58,44,94,857

@_ yk ;fj{hlgs lgisfzg -kmb{/ klAns O:o'_ ug]{ ;DaGwL lg0f{o aflif{s ;fwf/0f ;efaf6 kfl/t ePsf] M

o; sDkgLsf] ldlt @)&#÷)#÷@& ut] ;DkGg ljif]z ;fwf/0f ;efsf] lg0f{o tyf ldlt @)&$÷)^÷!& ut] a;]sf] ;+rfns ;ldltsf] lg0f{o cg';f/ ?= !))÷– c+lst b/sf] $),*!,))) lsQf ;fwf/0f z]o/x? c+lst d"Nodf lk|ldod jfkt ?= $)!÷– yk u/L k|lt z]o/ ?= %)!÷– sf b/n] ;j{;fwf/0fx?df yk ;fj{hlgs lgisfzg -kmb{/ klAns O:o"_ dfkm{t lgisfzg tyf laqmL ug]{ ;j{;Ddltaf6 lg0f{o ePsf] .

#_ c+lst d"No eGbf a9L d"No tf]sL lgisfzg ug]{ ePsf]n] d'No lgwf{/0f ug]{ ljlw / ;f]sf] cf}lrTo k'li6 ug]{ cfwf/ pNn]v ePsf] M o; ljj/0fkqsf] bkmf !)=$ df pNn]v ul/Psf] .

$_ P]gsf] bkmf #) ljj/0fkq k|sflzt u/]sf] M yk ;fj{hlgs lgisfzg -kmb{/ klAns O:o"_ ug{sf] nflu lwtf]kq ;DaGwL P]g, @)^# sf] bkmf #) adf]lhd ljj/0f g]kfn lwtf]kq af]8{af6 :jLs[t u/fO{ k|sflzt ul/Psf] .

%_ sDkgL /lhi6«f/sf] sfof{noaf6 lk|ldod d'Nodf z]o/ lgisfzg ug{ :jLs[tL k|bfg ul/Psf] ldlt tyf d'No ;DaGwL ljj/0fM o; sDkgLsf] k|lt z]o/ c+lst d"No ?= !))÷– df lk|ldod jfkt ?= $)!÷– yk u/L k|lt z]o/ ?=%)!÷– b/sf lk|ldod d'Nosf] z]o/ hf/L ug{ g]kfn lwtf]kq af]8{sf] zt{ kfngf ug]{ u/L ldlt @)&#÷!@÷@) sf] lg0f{ofg';f/ sDkgL P]g, @)^# sf] bkmf @( adf]lhd :jLs[tL k|bfg ul/Psf] .

8_ ljj/0fkq tof/ ug]{ JolQmsf] gfd, y/, z}lIfs of]Uotf / cg'ejsf] ljj/0f M o; ljj/0fkq tof/ kfg]{ Joj;flos ;+:yfdf lgisfzg tyf laqmL k|aGws >L PgPdla Soflk6n lnld6]8, gfukf]v/L, sf7df8f}+ /x]sf] 5 .

9_ ;sf/fTds kIfx? M • b]zdf /x]sf] phf{ If]qdf cg'ejL tyf bIf Joj:yfksx?åf/f ;+rflnt .

0f_ z]o/ /lhi6«f/ ;DaGwL Joj:yf M g]kfn :6s PS;r]Gh lnld6]8df ;"lrs/0f tyf l;l8P; P08 lSnol/Ë lnld6]8df btf{ u/] kZrft\ z]o/sf] bflvn vf/]h, b:tvt ?h' cflb ;DaGwL sfo{ sDkgLsf] z]o/ /lhi6«f/ PgPdla Soflk6n lnld6]8, gfukf]v/L, sf7df8f}+ dfkm{t ul/g]5 .

t_ lwtf]kq laqmL v'Nnf cjlw M o; ljj/0fkqåf/f yk ;fj{hlgs lgisfzg -kmb{/ klAns O:o"_ dfkm{t ;j{;fwf/0fx?df hf/L ul/g] z]o/x?sf] nflu cfj]bg lbg] cjlw laqmL v'Nnf ePsf] ldltaf6 al9df #) lbg ;Dd v'Nnf /xg]5 . yk ;fj{hlgs lgisfzg -kmb{/ klAns O:o"_ dfkm{t lgisfzg ul/g] z]o/sf] nflu cfj]bg lng] sfo{ sDtLdf rf/ sfo{lbgsf] nflu v'Nnf ul/g]5 .

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y_ lwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf, @)&$ sf] bkmf * adf]lhdsf ;Dk"0f{ zt{x? kfngf ePsf

;DalGwt ljj/0f M

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@# o; ljj/0fkqdf k|sflzt tYo tyf ljj/0fx? 7Ls b'?:t 5g, ;f] df s'g} km/s k/]df xfdL ;+rfnsx?

k"0f{ ?kdf lhDd]jf/ x'g]5f}+ egL ;xL 5fk ug]{ ;+rfns tyf lj1x?sf] gfd tyf b:tvt .

l;=g+= ;+rfnsx?sf] gfd kb b:tvt ! >L kb\d Hof]lt cWoIf

qm=;+= ljj/0f cj:yf s lwtf]kqsf] yk ;fj{hlgs lgisfzg tyf ;f]

lgisfzgaf6 k|fKt x'g] s"n /sdsf] pkof]u ;DaGwdf :ki6 ljQLo of]hgf tyf /0fgLltx¿ ;fwf/0f ;efaf6 kfl/t u/]sf]

ljQLo of]hgf tyf /0fgLltx¿ ;fwf/0f ;efaf6 kfl/t ePsf] .

v qm]l86 /]l6Ë u/]sf] o; ljj/0fkq dfkm{t\\ lgisfzg ul/g] ;fwf/0f z]o/sf] ;fj{hlgs lgisfzg ug{sf nflu O{qmf g]kfn ln= af6 æO{qmf Pglk cfO{lkcf] #Æ k|df0fkq k|fKt u/]sf] 5 .

u hf/L k"FhL zt k|ltzt r'Qmf ePsf] hf/L k"FhL zt k|ltzt r'Qmf ePsf] ,

3 kl/of]hgf lgdf{0fsf] nflu k|rlnt sfg"g adf]lhd s'g} lgsfoaf6 Ohfht, cg'dlt jf :jLs[lt lng' kg]{ ePdf To:tf] Ohfht, cg'dlt jf :jLs[lt lnPsf]

o; sDkgLaf6 k|jl4{t GofbL hnljB't cfof]hgf -#) d]ufjf6_ / sfj]nL P hnljB't cfof]hgf -#&=^ d]ufjf6_ sf] ;DjlGwt lgsfoaf6 k|fKt cg'dltkqx?ePsf] .

ª kl/of]hgf lgdf{0fsf] nflu cfjZos kg]{ hUuf vl/b jf cGo k|sf/n] Joj:yf u/L sf/vfgf ejg, sfof{no ejg, uf]bfd3/ tyf cGo cfjZos k"jf{wf/ lgdf{0f sfo{ z'? u/]sf]

o; sDkgLaf6 k|jl4{t GofbL hnljB't cfof]hgf -#) d]ufjf6_ / sfj]nL P hnljB't cfof]hgf -#&=^ d]ufjf6_ sf] lgdf{0f sfo{ ldlt EPC 7]s]bf/af6 @)&#÷!@÷!@ b]lv z'? ePsf] .

r kl/of]hgfsf] nflu cfjZos kg]{ oflGqs, pks/0f tyf To;sf kf6{k"hf{ nufotsf j:t' vl/b ug{' kg]{ ePdf vl/b k|s[of cufl8 a9fPsf]

o; sDkgLaf6 k|jl4{t GofbL hnljB't cfof]hgf -#) d]ufjf6_ / sfj]nL P hnljB't cfof]hgf -#&=^ d]ufjf6_ sf]] vl/b ;Demf}tf ;DkGg eO{ lgdf{0f sfo{ EPC 7]s]bf/af6 z'? eP;+u} Project construction schedule cg';f/ lgdf{0f ;DjlGw k|s[of cufl8 a9L /x]sf] .

5 kl/of]hgf lgdf{0fsf] nflu ljQLo Joj:yfkg tyf kmfOgflG;on Snf]h/ sf] ;}4flGts ;xdltkq -n]6/ ckm O{G6]G6_ k|fKt u/]sf]

o; sDkgLaf6 k|jl4{t GofbL hnljB't cfof]hgf -#) d]ufjf6_ / sfj]nL P hnljB't cfof]hgf -#&=^ d]ufjf6_ sf] ljQLo Joj:yfkg tyf kmfO{gflG;on Snf]h/ eO{ ;s]sf] .

h hnljB't kl/of]hgfsf] ;DaGwdf kl/of]hgf ljsf; ;Demf}tf tyf ljB't vl/b ;Demf}tf ul/;s]sf] / hnljB't u[x tyf cGo k"jf{wf/x¿ lgdf{0fsf nflu 6]08/ cfXjfg u/]sf],

o; sDkgLaf6 k|jl4{t GofbL hnljB't cfof]hgf -#) d]ufjf6_ / sfj]nL P hnljB't cfof]hgf -#&=^ d]ufjf6_ sf] kl/of]hgf ljsf; ;Demf}tf tyf ljB't vl/b ;Demf}tf ul/;s]sf] / hnljB't u[x tyf cGo k"jf{wf/x¿ lgdf{0fsf nflu 6]08/ cfXjfg eO{ 7]Ssf ;Demf}tf ;d]t ;DkGg eO{ EPC 7]s]bf/af6 lgdf{0f sfo{ ;d]t z'? eO{ ;s]sf] .

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@ >L k|bLk s'df/ >]i7 -;f+lu|nf Oglh{ lnld6]8sf] tkm{af6 k|ltlglwTj _

;+rfns

# >L ljho s[i0f >]i7 -;f+lu|nf Oglh{ lnld6]8sf] tkm{af6 k|ltlglwTj _

;+rfns

$ >L cf]d k|sfz >]i7 -;f+lu|nf Oglh{ lnld6]8sf] tkm{af6 k|ltlglwTj _

;+rfns

% >L ljho axfb'/ >]i7 -;f+lu|nf Oglh{ lnld6]8sf] tkm{af6 k|ltlglwTj _

;+rfns

^ >L lr/GhLjL r6f}6 -g]kfn ;/sf/ tkm{af6 k|ltlglwTj _ ;+rfns

& >L r08L k|;fb >]i7 -;j{;fwf/0f z]o/wgLaf6 lgjf{lrt _ ;+rfns

* >L lbjfs/ a}B -:jtGq ;~rfns_ ;+rfns

@$ lgisfzg tyf laqmL k|aGwssf] k|:t't u/]sf] k|lta4tf kq -8\o' 8]lnh]G;\ ;l6{lkms]6_ sf] k|lt M ;+nUg ul/Psf] . @% ljj/0fkq, ljQLo ljj/0f tyf cGo s'g} s'/fdf lj1n] /fo lbPsf] eP ;f] ;DaGwL kq M ;+nUg ul/Psf] .

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Email: [email protected] æljj/0fkqÆ · a'6jn kfj/ sDkgL lnld6]8, u+ufb]jL dfu{ j8f g+= !), a'4gu/, sf7df8f}+ / j]j;fO6 M